The Nigerian Electricity Regulatory Commission (NERC), has announced an increase in the price of electricity metres.

This was contained in a circular dated November 11, 2021, signed by the Chairman of NERC, James Momoh, and addressed to managing directors, all electricity distribution companies and all meter asset providers.

The circular, with reference number NERC/REG/MAP/GEN/751/2, was entitled ‘Review of the unit price of end-use meters under the Meter Asset Provider and National Mass Metering Regulations’.

NERC said increment in the price of both single-phase and three-phase electricity meters will take effect from November 15, 2021.

The price of a single-phase meter have increased from N44,896.17 to a revised price of N58,661.69.

While three-phase meter increased from N82,855.19 to a revised rate of N109,684.36.

“In arriving at the approved unit costs, the commission has considered the recent changes in foreign exchange approved by the Central Bank of Nigeria and the applicable rate available to importers of meter component or fully assembled meters through investors and exporters’ forex window,” Momoh said.