Electricity distribution companies (DisCos) in Nigeria have announced an upward review in prices of various electricity meter models.
The new prices, according to some DisCos, took effect from Tuesday, November 5, 2024. Recall that the DisCos had in August 2024 increased prices of meters.
Findings yesterday showed that a single-phase meter had risen from approximately N117,000 to as much as N149,800, depending on the distribution company and meter vendor.
Analysis showed that there wrre different prices depending in the disco. For Eko DisCo: Single Phase Meter: N135,987.5 – N161,035; Three Phase Meter: N226,600 – N266,600; Ibadan DisCo, Single Phase Meter: N130,998 – N142,548, Three Phase Meter: N226,556.25 – N232,008.04 and Abuja DisCo: Single Phase Meter: N123,130.53 – N147,812.5 and Three Phase Meter: N206,345.65 – N236,500.
The price of meters for Kano Electricity: Single Phase Meter, N127,925 – N129,999.75;Three Phase Meter: N223,793 – N235,425; Kaduna DisCo, Single Phase Meter: N131,150 — N142,548.94 and Three Phase Meter: 220,375 — N232,008.04.
The Nigerian Electricity Regulatory Commission (NERC) in April 2024 activated a policy shift as it announced the deregulation of meter prices under the Meter Asset Provider (MAP) scheme for end-user customers.
According to NERC, the new policy is to address lingering issues surrounding meter supply and pricing transparency within the power sector.
With the deregulation, NERC anticipates a more dynamic metering market that will ensure mutual benefit between customers and DisCos based on competitive pricing, improved service quality, and greater accountability among meter providers.
