Electricity Distribution Companies (DisCos) in Nigeria have announced a price increase for various electricity meter models, marking the second hike in four months.
The cost of a single-phase meter has risen from approximately ₦117,000 to as much as ₦149,800, representing an increase of 28.03% or ₦32,800, depending on the distribution company and meter vendor.
The new prices were posted on the official X handle of the DisCos on Wednesday and took effect on Tuesday, November 5, 2024. This adjustment reflects the deregulation of meter asset providers as directed by the Nigerian Electricity Regulatory Commission (NERC).
This price hike follows an earlier increase in August 2024, raising concerns among consumers about affordability and accessibility. An analysis reveals that meter prices vary across DisCos, influenced by vendors and the type of meter (single-phase or three-phase).
Meter Prices by Distribution Company:
Eko DisCo:
- Single-Phase Meter: ₦135,987.5 – ₦161,035
- Three-Phase Meter: ₦226,600 – ₦266,600
Ibadan DisCo:
- Single-Phase Meter: ₦130,998 – ₦142,548
- Three-Phase Meter: ₦226,556.25 – ₦232,008
Abuja DisCo:
- Single-Phase Meter: ₦123,130.53 – ₦147,812.5
- Three-Phase Meter: ₦206,345.65 – ₦236,500
Kano Electricity Distribution:
- Single-Phase Meter: ₦127,925 – ₦129,999
- Three-Phase Meter: ₦223,793 – ₦235,425
Kaduna DisCo:
- Single-Phase Meter: ₦131,150 – ₦142,548.94
- Three-Phase Meter: ₦220,375 – ₦232,008.04
In April, NERC introduced a significant policy shift by deregulating meter prices under the Meter Asset Provider (MAP) scheme for end-user customers. This move aims to address issues surrounding meter supply and pricing transparency within the electricity sector.
According to NERC’s latest order, meter prices under the MAP scheme will now be determined through competitive bidding rather than being centralized.
This shift is expected to foster greater competition among meter providers, improving cost efficiency and service delivery for end users.
The deregulation also removes earlier operational restrictions, allowing MAP permit holders to provide metering services across all electricity distribution companies in Nigeria.
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