Breaking: Federal Government Announces Increase in Price of Electricity Meters
- The price of both single-phase and three-phase electricity meters has been increased, according to the federal government
- The announcement issued by Nigerian Electricity Regulatory Commission (NERC) takes effect from Monday, November 15
- Single-phase meter went from N44,896.17 to N58,661.69, while the price of a three-phase meter rose from N82,855.19 to N109,684.36
The Nigerian government has increased the price of single-phase and three-phase electricity meters, The Punch reports.
This was made known in a circular issued by the Nigerian Electricity Regulatory Commission (NERC) dated Thursday, November 11.
Source: Getty Images
In the document, addressed to managing directors, all electricity distribution companies and meter asset providers, the new price is effective from Monday, November 15.
The regulator raised the price of a single-phase meter from N44,896.17 to a revised price of N58,661.69.
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Similarly, the cost of a three-phase meter went from the current price of N82,855.19 to a revised rate of N109,684.36.
Daily Trust also confirming the development said these costs are not inclusive of the 7.5% Value Added Tax (VAT) which Distribution Companies (DisCos) will add at the point of sale.
A single meter will now have N4,400 as VAT to sell at N63,061.69 while a three phase meter will have an additional N8,227 for VAT to sell for N117,911.36.
Ikeja electric introduces single view for prepaid meter management
In a previous report by Legit.ng, the Ikeja Electric Plc (IE) announced the introduction of Singleview, an interactive platform designed to enable prepaid meter customers access their vending pattern and consumption.
The platform was unveiled by Mrs Folake Soetan, Chief Executive Officer, Ikeja Electric on Friday, October 8, in Ikeja.
Soetan said the platform serves as a major touchpoint where prepaid meter customers could access personal information such as energy vending records and consumption history.
List of areas affected as Ikeja Electric announces 8-week blackout in Lagos
Meanwhile, Ikeja Electric Plc announced an eight-week power outage in some areas under its coverage in Lagos.
The company explained that the move is to enable the Transmission Company of Nigeria (TCN) to re-conduct its 132KV lines.
It was gathered that Olajide Kumapayi, the chief technical officer of the electricity distribution company, made this known during a news conference on Monday, October 4.
Source: Legit.ng
