See new for prepaid meters, as Nigerians are invited to apply

• EKEDC has released updated pricing for deregulated prepaid metres placed under the Metre Asset Provider
• The new meter pricing covers both single-phase and also three-phase meters, all recording a slight increase
• The electricity company said interested customers can apply for new meters through its website

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.

The Eko Electricity Distribution Company (EKEDC) has announced new pricing for an increase for prepaid metres installed under the Metre Asset Provider (MAP).

The new pricing included the costs for single-phase and three-phase meters from six different MAP vendors

Nigerians to pay more for prepaid meters Photo credit: Pius Utomi Ekpei
Source: Getty Images

In a statement posted on its official X account, EKEDC revealed that the cost of prepaid meters has been set between N129,000 to N247,000, depending on the vendor and the type of meter.

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This is an increase from the previous prices of N118,698 to N240,000.

MAPs are companies licensed by the Nigerian Electricity Regulatory Commission (NERC) to procure and install meters for customers of Electricity Distribution companies.

The statement from EKEDC reads:

"In line with NERC's Order on Deregulation of Meter prices for the MAP Scheme, kindly see the new prices for single (one) and three phase meters (VAT inclusive)."

See the prices below

Breakdown of new prepaid meter prices Photo credit: EKEDC
Source: Twitter

EKEDC advises customers

Meanwhile, EKEDC has urged customers without prepaid meters to register for them in order to eliminate estimated billing.

Rekhiat Momoh, the acting chief executive officer of EKEDC, made this appeal during a customer engagement forum at the Ijora Business Unit in Lagos, which serves areas such as Otto, Iganmu, Ijora, Alaka, Iponri, Ebute Metta, Adekunle, Iwaya, Otto, Onike, Surulere, Yaba, and Ajegunle.

Speaking at a recent engagement with stakeholders, She said:

“Customers who are yet to register are advised to visit EKEDC’s official website and fill out the application form to benefit from the ongoing massive metering. “We have given matching orders to all meter vendors to install all backlogs with immediate effect to enable all customers to have access to prepaid meters.”

NERC announces new rate for electricity tariff

Legit.ng reported that the Nigerian Electricity Regulatory Commission (NERC) announced that the currency rate used to determine Band A consumers' current electricity cost had been lowered by 16.03%.

NERC cited this in its released Multi-Year Tariff Order (MYTO).

The electricity regulator consequently said that it slashed the rate from N1,463.3/$ to N1,277.8/$ due to the appreciation of the naira against the dollar in the past month.

Source: Legit.ng