The Nigerian Electricity Regulatory Commission has offered reasons why it approved an increase in the price of prepaid electricity meters in the country.
As earlier reported by The Eagle Online, NERC gave its approval for the increase via an order it issued on Tuesday.
NERC, in the “order” signed by its Chairman, Sanusi Garba, and Commissioner, Legal, Licensing and Compliance, Dafe Akpeneye, obtained by newsmen on Wednesday in Abuja, detailed the new prices of the meters.
A single phase prepaid meter would now cost N81,975.16k from the N58,661.69 it was before the latest increase, while three phase prepaid meters would cost N143,836.10 from N109,684.36.
On the reasons for the increase, the Order said: “Significant changes in macroeconomic indicators, such as inflation and changes in the foreign exchange rates have necessitated a review of the regulated rates for MAP meters.”
ALSO READ:
Tinubu to Indian investors: Do not procrastinate as Nigeria offers the best return on investment
Abuja like other states, court dismisses LP’s 25% FCT votes claim
Six-month-old survives Lagos road accident, others injured + Photos
The commission also stated that the approved meter prices were exclusive of the 7.5 percent Value Added Tax.
It said the new price regime was to ensure a fair and reasonable pricing of meters to both MAPs and end-use customers
The NERC added: “Ensure Meter Assets Programme (MAP)’s ability to recover reasonable costs associated with meter procurement and maintenance while ensuring that their pricing structure allows for a viable return on investment
“Evaluate the affordability of meter services for consumers, aiming to prevent excessive pricing that could burden end-users. Ensure that MAPs are able to provide meters to end-use customers in the prevailing economic realities.
Follow The Eagle Online Channel on WhatsApp
