PHED has officially approved an upward review of meter prices in line with the Nigerian Electricity Regulatory Commission (NERC) directive.

The Management of Port Harcourt Electricity Distribution company (PHED), has approved an increase in meter charges.

The PHED announced this in a statement on Monday, stating that the meter pricing review reflects the Central Bank of Nigeria’s recent shift in foreign exchange rate.

According to PHED;

“This is to notify all customers of the Port Harcourt Electricity Distribution (PHED) Plc., that the Nigerian Electricity Regulatory Commission (NERC), has approved an upward review of meter prices.”

The statement further reads that;

“The review of the meter price reflects the recent change in foreign exchange rate by the Central Bank of Nigeria (CBN), applicable rates available to Importers of meters components and assembled meters.”

PHED, however, charged its customers to kindly take note that the new prices takes effect from November 15, 2021 as directed by NERC.

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