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The Federal Government has announced an increase in the prices of single phase and three-phase prepaid meters. This increment was announced through the Nigerian Electricity Regulatory Commission (NERC) in a circular dated November 11, 2021 and addressed to the Managing Directors of all electricity Distribution Companies (DISCOS) and all Meter Asset Providers (MAP).
The circular entitled ‘Review of Unit Price of End-Users Meters, under the Meter Asset Provider and National Mass Metering Regulations, that the reason for the upward review of the meter prices was due to the ‘recent changes in macro-economic parameters.
The federal government circular stated that the single-phase meter has been increased from the current cost of N44,896.17 to a revised price of N58,661.69, while the three-phase meter, has been increased from N82,855.19 to N109,684.36 respectively.
These new prices are exclusive of the mandatory 7.5 per cent VAT charge which the 11 Discos and other meter providers such as Meter Asset Provider (MAP) are expected to add at the point of sale.
Meanwhile, the addition of VAT fee will bring the cost of the single-phase meter to N63,061.69, while the three-phase meter will cost N117,911.36.