Ikeja Electric implements new meter price hike, targets 400,000 households


keja Electric Plc (IE) yesterday declared that it had begun implementation of new price hike for prepaid meters on June 1 just as it declared plans to connect additional 400,000 households on its prepaid metering system.



The utility firm had connected over one hundred and twenty thousand households on metering system between 2018 and June 2020 in line with its commitment to bridge its metering gap.



The upward review of meter prices by the Nigerian Electricity Regulatory Commission (NERC), the new price for Single Phase Meter is now N48,263.37 while Three Phase Meter is N89,069.33.



The company’s Head of Corporate Communications, Ikeja Electric, Felix Ofulue disclosed that in order to achieve the mandate of the NERC to bridge the metering gap and reduce the incidence of estimated bills, the company had doubled its efforts to realize its objective of metering all its customers in the shortest possible time.



He said: “The company plans to meter another 400,000 customers over the next two years. Apart from eradicating estimated billing, Ikeja Electric’s metering program has also provided jobs, directly and indirectly, for thousands of Lagosians and Nigerians in general, particularly during the lockdown.



“In addition to consumer metering, Ikeja Electric has also metered all the 33kv /11kv feeders from the injection stations ensuring energy accountability across its delivery points.



“In addition, the local distribution transformers have also been metered up to 100% while the metering of newly installed transformers after completion of the project is ongoing.”






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