NERC approves a 40% price hike for metres

The Metre Asset Provider and National Mass Metering Regulations were adopted by the Nigerian Electricity Regulatory Commission on Tuesday, which included a 40% increase in unit costs for end-use metres.

This information was provided by NERC in a Notice order that was signed by the organization’s Chairman, Sanusi Garba, and commissioner for legal, licencing, and compliance, Dafe Akpeneye.

As a result, the cost of a single-phase metre has jumped from N58,661.69 to N81,975.16.

In addition, the cost of the three-phase metre rose from N109,684.34 to N143,836.10.

The upshot is that customers of electricity will have to pay N23,313.64 more for a single-phase meter—a 40% increment—and N34,151.76 more for a three-phase meter—a 31% more.