The Electricity Distribution Companies (DisCos) have announced significant increases in the prices of single-phase and three-phase electricity meters, effective November 5, 2024.
This development comes after the Nigerian Electricity Regulatory Commission’s (NERC) deregulation of meter prices under the Meter Asset Provider (MAP) scheme.
According to posts on the DisCos’ social media platforms, the new price regime sees the cost of a single-phase meter surge from the previous range of around ₦117,000 to a new range of approximately ₦149,800, depending on the DisCo and meter vendor.
For instance, the Eko Electricity Distribution Company (Eko DisCo) has set the price of its single-phase meter between ₦135,987.5 and ₦161,035, while the price for a three-phase meter now falls between ₦226,600 and ₦266,600.
Similarly, the Ibadan Electricity Distribution Company (Ibadan DisCo) has informed customers that they will now need to pay between ₦130,998 and ₦142,548 for a single-phase meter, and ₦226,556.25–₦232,008 for a three-phase meter.
Other DisCos have also announced their new meter price ranges. Abuja Electricity Distribution Company (Abuja DisCo) will sell single-phase meters for between ₦123,130.53 and ₦147,812.5, and three-phase meters for between ₦206,345.65 and ₦236,500. Kano Electricity Distribution Company will sell single-phase meters for between ₦127,925 and ₦129,999, and three-phase meters for between ₦223,793 and ₦235,425. Kaduna Electricity Distribution Company (Kaduna DisCo) has set its single-phase meter prices between ₦131,150 and ₦142,548.94, and three-phase meter prices between ₦220,375 and ₦232,008.04.
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This latest development follows NERC’s decision to deregulate meter prices under the MAP scheme for end-user customers.
The Explainer learned the deregulation aimed to address the long-standing issues surrounding meter supply and pricing within the electricity sector, allowing DisCos and meter vendors to set prices based on the prevailing economic realities.
NERC’s decision was intended to help investors recover their investments and ensure the availability of meters for electricity consumers across the country.
However, the substantial price increases announced by the DisCos have raised concerns among the public, who are already grappling with the broader economic challenges facing the nation.
