FG has increased the prices of electricity meters.
Glamtush reports that the Federal Government has increased the cost of both single-phase and three-phase electricity meters in the country.
This online platform understands that the price increment will begin from November 15, 2021.
The announcement was made in a circular dated November 11, 2021, issued by the Nigerian Electricity Regulatory Commission 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’.
In the document, the regulator increased the price of a single-phase meter from the current cost of N44,896.17 to a revised price of N58,661.69.
It also increased the price of a three-phase meter from the current cost of N82,855.19 to a revised rate of N109,684.36.
Recall that the prices which were initially N36,991 for single phase and N67,055 for three-phase meters, were increased in 2018 to N44.896.16 for single phase and N82,855.19 for three-phase meters.