How much is a single-phase prepaid meter? Current Price

In our previous post, we discussed single-phase prepaid meters. In today’s guide, we’re going to answer this pressing question: How much is a single-phase prepaid meter? Stay tuned as we do justice to it together.

The cost of a single-phase prepaid meter is the same across the country. This means that the cost in Abuja is the same as the price in Lagos State. 

In September 2023, the regulatory body in charge of electricity in Nigeria, NERC, increased the price of prepaid meters from their old price to a new one, pointing out inflation and production costs as the primary reasons for the price hike. 

Although the price of a single-phase prepaid meter is ₦81,975.16, it may take you about ₦100,000 to fully install and activate the meter in your property due to the logistics involved in the installation and set-up process. So, whenever you want to buy the prepaid meter, make a bogus budget to accommodate the unwritten cost to avoid getting stranded during the meter set-up process.

How much is a single-phase prepaid meter in Nigeria?

In Nigeria, the current price of a single-phase prepaid meter is ₦81,975.16.

This new price became effective in the country in September 2023, when the National Electricity Regulatory Commission increased the price of prepaid meters. 

It would be recalled that prior to September 2023, the price of a single-phase meter was around ₦58,661.69. This current price shows that about ₦23,313.47  was added to the old price. According to NERC, the reason for the price increment was inflation and an increase in the price of the material used in meter  production.

However, apart from this cost, the purchase and installation of a single-phase meter in Nigeria may likely cost about ₦100,000 due to other logistics involved. So, if you want to buy and install a single-phase prepaid meter in your home or office, your financial budget should be around one hundred thousand naira to enable you to set up and activate the meter properly. 

Conclusion

Understanding the cost of a single-phase prepaid meter is crucial for anyone looking to manage their electricity consumption better. As of September 2023, the price of the meter stands at ₦81,975.16, but remember, it’s wise to budget closer to ₦100,000 to cover installation and activation costs as well. This added cushion can save you from any surprises during the setup process.

While the recent price increase reflects the ongoing inflation and rising production costs, investing in a prepaid meter can ultimately give you more control over your energy expenses and help you avoid those dreaded estimated bills. So, if you’re considering making this upgrade, now’s the time to plan your budget accordingly. With the right preparation, you’ll be well on your way to enjoying the benefits of having a prepaid meter in your home or office!