The Nigerian Electricity Regulatory Commission (NERC) is considering raising the price of prepaid meters due to the high production costs faced by manufacturers.
Sources report that manufacturers have stopped sending invoices to Distribution Companies (Discos) in anticipation of the price increase.
The rise in prices is linked to the foreign exchange crisis, which has led to higher production costs and inflation for manufacturers.
In September 2023, NERC reviewed the price of prepaid meters in a circular signed by Sanusi Garba, the commission’s chairman, and Dafe Akpeneye, its commissioner for legal, licensing, and compliance.
The commission announced that the price of a single-phase meter has been raised to N81,975.16 from N58,661.69.
Additionally, the cost of a three-phase meter has increased to N143,836.10 from N109,684.36.
NERC, the sector regulator, sets the prices for prepaid meters, many of which are imported into the country as semi-knocked down units and then assembled locally.
Over time, prepaid meters have advanced, with DisCos adding features to prevent energy theft and provide more consumption data.
