How Much is Prepaid Meter in Nigeria?

A lot of people, particularly homeowners commonly ask questions like “how much is prepaid meter in Nigeria?” “How do I start using a prepaid meter?” All these questions would be answered in this article.

What is a Prepaid Meter?

A prepaid energy meter allows power providers to collect energy bills from customers before they use electricity by only supplying the amount that has been paid for.

This study proposes a prepaid energy meter that functions similarly to a prepaid cell phone. A prepaid card, similar to a mobile SIM card, is included in the meter. For many residents, prepaid power is an excellent option.

Residents are increasingly fed up with paying excessive electricity rates. Customers who use prepayment pay for their electricity before they use it. The advantage is that you won’t have any unexpected bills at the end of the month, and you’ll be able to budget for your power correctly.

How does a Prepaid Meter Work?

A prepaid meter works in the same way that a prepaid phone does (“pay as you go”). You put money/units on your prepaid meter, allowing you to use electricity up to the value of the units you’ve loaded.

When the pre-paid amount on a prepaid smart electric meter is depleted, the electricity is turned off, similar to how a pre-paid mobile number is depleted. When the meter’s balance falls below a certain threshold, the consumer receives an alert, prompting him or her to recharge the meter, which can be done automatically or manually.

Consumers can monitor their electricity usage in real time with prepaid meters. If customers believe their power usage is spiraling out of their household budget, this can incentivize them to save money by reducing the use of power-guzzling appliances.

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What are the Advantages that Come With Using a Prepaid Meter?

The most significant advantage of using a prepaid meter is being able to pay for electricity in advance. Utility companies can expand their energy supply to new customers, enhance their existing network, and generally improve the service they provide to all customers by enhancing revenue collection.

Prepayment has an additional benefit for both parties in that it reduces electricity use, often by more than 20%, as users become more aware of the cost of running non-essential items.

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How Much is Prepaid Meter in Nigeria?

A single-phase prepaid electricity meter costs N48,263 and a three-phase prepaid electricity meter costs N89,063. These are the new fees as a result of the National Electricity Regulatory Commission’s decision to increase meter prices (NERDC).

How do you Begin to use a Prepaid Meter?

Generally, one can apply for a prepaid meter in the closest Electricity distribution company closest to them. However, for some companies like the Ikeja Electricity Distribution Company, one can apply on their website:

How to Install Prepaid Meter

Before we go any further, we urge that you have your prepaid meter installed by a professional. The installation will vary depending on whether the building is a free-standing home or a larger structure with different apartments.

A single prepaid meter is required for a freestanding residence with a single building. The meter should be installed between the municipal board and the home’s distribution board. A house with a cottage is a little more difficult to build because two meters are necessary.

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The meter should remain between the municipal board and each home’s distribution board, but there should be two isolator switches between each prepayment meter and the municipal board. A multi-unit building will have additional meters and isolator switches, similar to a home with a cottage. Although it is not essential, a prepaid meter should be installed between the unit meter and the unit distribution board in an existing building.

Major Electricity Companies in Nigeria that Accept Prepaid Meter

  • Ibadan Electricity Distribution Company (IBEDC)
  • Power Holding Company of Nigeria(PHCN)
  • Ikeja Electricity Distribution Company (IKEDC)

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This piece has covered in detail everything you need to know about prepaid meters. Any questions? Utilize the comment section below. Thank you!

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