Electricity Distribution Companies (DisCos) in Nigeria have announced an increase in the price of various electricity meter models, marking the second price rise in four months.
According to DisCos, the cost of a single-phase meter has surged from around N117,000 to N149,800, an increase of 28.03 percent or N32,800 depending on the distribution company and vendor.
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The updated prices were shared on DisCos’ official social media accounts on Wednesday and are set to take effect from November 5, 2024. This adjustment follows the Nigerian Electricity Regulatory Commission’s (NERC) decision to deregulate meter asset providers (MAP), a move intended to foster competition and improve metering services across the sector.
Eko DisCo’s new pricing lists single-phase meters between N135,987.5 and N161,035, while three-phase meters are pegged between N226,600 and N266,600. Ibadan DisCo customers will pay N130,998–N142,548 for single-phase meters and N226,556.25–N232,008 for three-phase models. Abuja DisCo announced a price range of N123,130.53–N147,812.5 for single-phase meters and N206,345.65–N236,500 for three-phase options.
Kano DisCo set prices at N127,925–N129,999 for single-phase and N223,793–N235,425 for three-phase meters, while Kaduna DisCo listed single-phase meters from N131,150 to N142,548.94 and three-phase meters from N220,375 to N232,008.04.
In April, NERC introduced a policy shift allowing MAP prices to be set by competitive bidding rather than through fixed, centralised rates. This deregulation aims to improve pricing transparency and address long-standing supply issues. “With this shift, MAP providers can operate across all DisCos, allowing more flexibility and competition,” NERC stated, noting that MAPs must still adhere to regulatory standards.
Previously, meter prices were centrally regulated, with subsidies to lower costs for customers. However, this approach limited competitive pricing and transparency.
NERC expects the new deregulated model to increase efficiency, providing customers and DisCos with more affordable options, improved service quality, and greater accountability from meter providers.
