Electricity Distribution Companies (DisCos) in Nigeria have announced revised prices for various electricity meter models, marking the second price hike in four months.
According to the DisCos, the cost of a single-phase meter has risen from approximately N117,000 to as much as N149,800, depending on the distribution company and meter vendor.
The new prices, scheduled to take effect on Tuesday, November 5, 2024, reflect the deregulation of Meter Asset Providers (MAP) as directed by the Nigerian Electricity Regulatory Commission (NERC).
This upward revision follows an earlier increase in August 2024, further amplifying concerns among electricity consumers about affordability and accessibility.
A check by Naijaonpoint revealed that meter prices vary across DisCos, influenced by vendors and meter models (single-phase and three-phase). Below are the new average meter prices, inclusive of VAT:
Eko DisCo:
Ibadan DisCo:
Abuja DisCo:
Kano Electricity:
Kaduna DisCo:
In April, Naijaonpoint reported that the Nigerian Electricity Regulatory Commission (NERC) introduced a significant policy shift by announcing the deregulation of meter prices under the Meter Asset Provider (MAP) scheme for end-user customers. This move aims to address lingering issues surrounding meter supply and pricing transparency within the electricity sector.
With deregulation now in place, NERC anticipates a more dynamic metering ecosystem where customers and DisCos can benefit from competitive pricing, improved service quality, and greater accountability among meter providers.