Electricity to Cost More, as FG Jerks Up Metered Unit Price

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NERC, Electricity Cost, Metered Unit Price

Electricity to Cost More, as FG Jerks Up Metered Unit Price

The Nigerian Electricity Regulatory Commission (NERC) recently approved an upward review of unit price of meters.

According to a statement made available to newsmen, the price review takes effect from November 15, ç 2021.

The affected meter types are the Single Phase Meter and Three Phase Meter respectively.

While the former price changed from 44,896.17 to 58,661.69, the latter changed from 82,855.19 to 109,684.36.

In a statement dated November 11, 2021 and signed by the NERC Chairman, Sanusi Garba, the Commission stated that the upward review of unit price of meter was pursuant to the provisions of the Meter Asset Provider, National Mass Metrer Regulations and the Nigerian Electricity Regulatory Commission (NERC) is sequel to changes in macro-economic parameters.

The statement partly reads; “In arriving at the approved unit price, the Commission had, in particular, only considered changes in foreign exchange and inflation since the last review of June 2020.

“This price review is subject to change upon the conclusion of the procurement process under phase 1 of the National Mass Metering Program.”

With this, it is certain that consumers of electricity in Nigeria are in for a hard time.

 

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