The cost of a single-phase electricity meter has risen to over N130,000 from N88,000 in the first quarter of this year.
This is the second time the Nigerian Electricity Regulatory Commission would approve an increase in the prices of prepaid meters.
Sunday PUNCH gathered that the price of a single-phase meter ranged from N130,000 to N139,000, while a three-phase meter was sold between N219,000 and N229,000, depending on the vendor.
This is just as some consumers who have yet to be metered continued to lament high estimated billing from their Electricity Distribution Companies.
The consumers on direct connection lamented that they receive estimated billings every month, stating that the amount being charged by DisCos is not usually commensurable to the units of energy they used.
A single-phase smart meter was sold at N106,802.69 while the three-phase smart meter rose from N154,600 in May this year to goes for N210,751.61.
According to some of the electricity distribution companies who spoke to our correspondent, DisCos no longer have control over meter sales, stating that the customers deal directly with the meter asset provider, who is mandated to supply the meter within 10 working days after payment.
The Chief Executive Officer of Femadec Group, Fola Akinola, recently said meter application portals were shut in April because the vendors and the DisCos were regularising prices to reflect the current economic realities.
“In a situation where you fixed the price of meters when $1 was around N500, and now that $1 is over N1,300, you cannot sell the ones you have because you will not be able to replace them. People cannot bring in meters because of the exchange rate,” he stated.
