FG’s proposed meter tariffs takes effect from today

FG's proposed meter tariffs takes effect from today

The federal government’s new prepaid meter tariffs will go into effect today, November 15, 2021.

The Nigerian Electricity Regulatory Commission revealed in a circular that the federal government has hiked the pricing of both single-phase and three-phase prepaid electricity meters.

The circular was sent to managing directors, all energy distribution companies, and all meter asset providers and was titled “Review of the unit pricing of end-use meters under the Meter Asset Provider and National Mass Metering Regulations.”

The commission said the upward review of meter prices is due to “the recent changes in macro-economic parameters.”

This implies that consumers will pay more than the stipulated prices to procure the meters from electricity distribution companies (DisCos).

At the current VAT rate of 7.5 percent, a single meter will cost an additional N4,400 to sell at N63,061.69, while a three-phase meter will cost an extra VAT of N8,227 to sell for N117,911.36.

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