See list of new prices for prepaid meters as FG gives approval

• The Ikeja Electric company has announced an approved upward review for single-phase and three-phase prepaid meters
• The new prices mean Nigerians applying for prepaid meters in August will pay 5% more compared to July
• The changes in prepaid meters reflect the fluctuation of the naira in the foreign exchange markets

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Ikeja Electric has announced an approved price increase for single-phase and three-phase prepaid meters.

The increase is expected to be implemented by all electricity distribution companies (DisCos).

Again, Nigerians to pay more to get meters Photo Credit: Allnews Nigeria
Source: UGC

In a notice shared with its customers on Wednesday, August 8, 2024, Ikeja Electric stated that all prices are valid subject to meter availability.

According to the company, a single-phase pre-paid meter will now cost an average of N124,700, up from the previous price of N118,357 announced in July.

Nigerians in need of three-phase pre-paid meters will pay an average of N213,387, up from the previous rate of N206,722.

NERC message to DisCos

In an earlier circular, Legit.ng reported that the Nigerian Electricity Regulatory Commission (NERC) promised to guarantee that metres were priced fairly and reasonably for both MAPs and end-use customers.

The circular reads:

"Ensure MAP’s ability to recover reasonable costs associated with meter procurement and maintenance while ensuring that their pricing structure allows for a viable return on investment. "Evaluate the affordability of meter services for consumers, aiming to prevent excessive pricing that could burden end-users. "Ensure that MAPs are able to provide meters to end-use customers in the prevailing economic realities."

DisCo threatens to disconnect southeast govt offices

In related news, Legit.ng reported that the Enugu Electricity Distribution Company (EEDC) threatened to disconnect all five southeast government houses for failing to pay their accumulated energy bills.

This was disclosed in a disconnection notice released to the press on Friday, June 7, stating that the company is owed over N180 billion in unpaid electricity bills.

It stated that the company would commence the disconnection of electricity supply to these indebted customers.

Source: Legit.ng