The Nigerian Electricity Regulatory Commission (NERC) has announced an increase in the prices of single-phase and three-phase meters, citing significant changes in foreign exchange rates and inflation since the last price review in September 2023. The price of a single-phase meter has been raised from N58,661.69 to N81,975.16, while the price of a three-phase meter has been increased from N109,684.36 to N143,836.10.
The adjustments, contained in a directive by NERC Chairman Sanusi Garba and Commissioner Legal and Licensing Compliance Dafe Akpeneye, are part of the deregulation of meter prices for meters deployed under the Meter Asset Provider Scheme. The Meter Asset Provider and National Mass Metering Regulations aim to account for the metering of end-use customers of successor electricity distribution licensees ("DisCos").
According to NERC, the Meter Asset Providers (MAPs) and Local Meter Manufacturers Associations (LMMAs) requested the price review due to constraints in supplying meters at the approved regulated price, given the changes in macroeconomic variables. NERC emphasized the need for efficient pricing of meters to respond more quickly to changes in exchange rates and other macroeconomic parameters.
