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Nigerian Electricity Regulatory Commission (NERC) Considers Adjusting Prepaid Meter Prices

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 In response to the challenges posed by limited resources and foreign exchange constraints within the country, the Nigerian Electricity Regulatory Commission (NERC) is currently examining the possibility of implementing adjustments to the prices of prepaid meters.

Acknowledging the prevailing economic realities, the Commission is deliberating potential price increases to ensure sustainability and viability within the electricity metering sector. This initiative aims to address the intricacies associated with meter pricing in light of evolving market dynamics.

In line with this effort, Meter Asset Providers (MAPs) have temporarily suspended the sale of new meters, pending NERC’s approval of revised pricing structures. Consequently, the processing of new meter applications has been put on hold until the anticipated price adjustments come into effect.

Moreover, in response to foreign exchange challenges, meter manufacturers have temporarily halted the issuance of invoices until the revised meter prices are finalized. This strategic pause underscores the industry’s concerted effort to navigate prevailing economic constraints while maintaining operational continuity.

A reliable source familiar with the matter conveyed to TECH AND BIZ NEWS , “The cost of prepaid meters is going to go up soon. Meter Asset Providers have stopped selling new meters as they await NERC to approve new prices. New meter applications are not being processed until the price changes are reflected. So due to FX issues, the meter manufacturers have stopped sending invoices until the meter price is reviewed.”

NERC remains committed to fostering a sustainable and resilient electricity metering ecosystem that aligns with national developmental objectives. The Commission continues to engage stakeholders and industry players to ensure transparent and equitable solutions that benefit all stakeholders.

The Nigerian Electricity Regulatory Commission (NERC) is an independent regulatory body established by the Electric Power Sector Reform Act (EPSRA) 2005 to regulate the Nigerian Electricity Supply Industry (NESI). NERC’s mandate includes promoting competition, efficiency, and ensuring fair market practices within the electricity sector.

ANTHONY NWOSU

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