See why NERC's warning to Nigerians using prepaid meters and advice matter

• NERC has advised prepaid meter users in Nigeria to update their meters by the deadline of November 2024
• The commission stated that after the deadline, consumers who fail to upgrade may not be able to recharge their electricity
• The update is straightforward and does not affect customers' meter units or cause their meters to run faster than usual

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 Nigerian Electricity Regulatory Commission (NERC) has again reminded Nigerians to update their meters before the deadline of November 2024.

The Commission released the message through its official X account on Tuesday, August 8, 2024, urging electricity consumers to take action before the deadline.

Nigerians are asked to update meters Photo credit: Pius Utomi Ekpei
Source: Getty Images

The commission warned that after the deadline, consumers who fail to upgrade may not be able to recharge their electricity.

NERC tweeted:

"Have you updated your Meter yet? From November 2024, you may not be able to recharge your meter without updating. However, updating is easy and free. "DisCos have already commenced issuance of 2 free Key Change Tokens (KCTs) which will update your meter."The update will not affect the units in your meter, nor will it make your meter run faster than usual. Contact your DisCo for more information."

Legit.ng had earlier reported on the steps to upgrade prepaid meters

FG approves hike in prepaid meter prices

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

All electricity distribution companies (DisCos) are expected to implement the increase.

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 prepaid meter will now cost an average of N124,700, up from the previous price of N118,357 announced in July.

Nigerians needing three-phase prepaid meters will pay an average of N213,387, up from the previous rate of N206,722.

Nigeria gets US investor for electricity project

Legit.ng earlier reported that the Federal Ministry of Power and the US Agency for International Development signed a memorandum of agreement on Wednesday, July 10, to guarantee Nigeria's commitment to electrical sector reforms, market openness, liquidity, and expanding access to cheap power.

Both parties declared this in a statement released by the Ministry of Power in Abuja, as reported by The Punch.

The MOU aims to support the implementation of a N115.2 billion US government grant-funded technical assistance program intended to support power sector development and reforms in Nigeria.

Source: Legit.ng