Power Distribution Companies (DisCos) have announced revised prices for various electricity meter models.
The increase marks the second in the last four months, that is between August and Novemeber 2024.
The new prices, which took effect on November 5.
Following the increase, the cost of a single-phase meter has risen from approximately N117,000 to N149,800, depending on the distribution company and meter vendor.
Eko DisCo pegged the price of a single phase meter at between N135,987.5 and N161,035, while a three phase meter now goes for between N226,600 and N266,600
Ibadan DisCo also jerked up the price of a single phase meter to between N130,998 and N142,548 and a three phase meter to between N226,556.25 and N232,008.0, while Abuja DisCo will now sell a single phase meter for between N123,130.53 and N147,812.5and a three phase meter for N206,345.65 – N236,500
Electricity consumers under Kano Electricity will now part with between N127,925 and N129,999.75 for single phase meter and N223,793 and N235,425 for three phase meter while their counterparts under Kaduna DisCo will pay between N131,150 and N142,548.94 for single phase and between N220,375 and N232,008.04 for three phase meter.
In April, the Nigerian Electricity Regulatory Commission (NERC) announced the deregulation of meter prices under the Meter Asset Provider (MAP) scheme for end-user customers in a bid to address lingering issues surrounding meter supply and pricing transparency in the electricity sector.
The NERC said meter prices under the MAP scheme would be determined through competitive bidding rather than being centrally regulated.
Prior to this, the NERC regulated meter prices, which were often subsidised across all DisCos to reduce costs for customers.
