In a recent development, the Nigerian Electricity Regulatory Commission (NERC) has granted its approval for a significant adjustment in the unit costs associated with end-use meters, as outlined in the Meter Asset Provider and National Mass Metering Regulations.
This momentous decision was conveyed through an official Notice order, jointly signed by the Chairman of NERC, Sanusi Garba, and the Commissioner of Legal, Licensing, and Compliance, Dafe Akpeneye.
Consequently, there has been a substantial increase in the pricing structure for both single-phase and three-phase meters.
Specifically, the price for a single-phase meter has been raised from its previous figure of N58,661.69 to a new rate of N81,975.16. Simultaneously, the cost of a three-phase meter has experienced an upward adjustment, ascending from N109,684.34 to N143,836.10.
The practical implication of these alterations is that electricity consumers will now be required to bear an additional financial burden. For those seeking to procure a single-phase meter, this translates to an increment of N23,313.64, representing a 40 percent escalation in cost.
Meanwhile, individuals opting for a three-phase meter will face a 31 percent increase, amounting to an additional expenditure of N34,151.76.
This decision by NERC is expected to have far-reaching consequences within the electricity supply landscape, and it underscores the need for consumers to be prepared for the associated cost adjustments in their pursuit of reliable electricity services.