The Federal Government through the Nigerian Electricity Regulatory Commission (NERC) has announced an upward review of the unit price of end-user meters under the Meter Asset Provider (MAP) and National Mass Metering Regulations.
NERC which reviewed the unit prices of the meters due to recent changes in macroeconomic parameters, approved the increase of single-phase meter from N44,896.17 to N58,661.69 and three-phase meter from N82,855.19 to N109,684.36.
The disclosure is contained in a circular issued by NERC to the Managing Directors of all electricity distribution companies and all Meter Asset Providers and signed by its Chairman, Sanusi Garba.
The circular which is titled, ‘Review of the unit price of end-user meters under the meter asset provider and national mass metering regulations,‘ pointed out that all costs are exclusive of Value Added Tax (VAT).
The commission in the circular said that in arriving at the approved unit price, it had to consider changes in foreign exchange and inflation since the last review that was done in June 2020.
It also noted that the price review which is effective from November 15, 2021, is subject to change upon the conclusion of the procurement process under the phase 1 of the National Mass Metering Programme.
What you should know
Recall that in August 2020, President Muhammadu Buhari directed that there should be a nationwide mass metering programme for electricity consumers in the country in an effort by the Federal Government to put an end to estimated and arbitrary billing for electricity.
The government is working to ensure that Electricity Distribution Companies (DISCOs) commit to increasing the number of hours of electricity supply every day and to also improve on their quality of service.
The Presidency had earlier announced the approval of a one-year waiver of import levy on electricity meters, so that Nigerians who do not have meters can be supplied as early as possible at a reasonable cost
The government also had in August this year, announced that it will soon commence the second phase of its National Mass Metering Programme (NMMP), a scheme to get more Nigerians connected to the grid and make electricity distribution more efficient, in August 2021.