Kehinde Fajobi
Electricity Distribution Companies (DisCos) in Nigeria have announced an increase in meter prices, marking the second price hike in four months.
The cost of a single-phase meter has risen from approximately โฆ117,000 to as much as โฆ149,800, representing a 28.03 per cent increase, or an additional โฆ32,800 depending on the distribution company and vendor.
The new rates, posted on the DisCosโ official X handle on Wednesday, came into effect on Tuesday, November 5, 2024, and reflect the recent deregulation of the Meter Asset Provider (MAP) scheme, as directed by the Nigerian Electricity Regulatory Commission (NERC).
In August 2024, an earlier hike had already impacted consumers, raising further concerns about meter affordability and access.
A breakdown of the recent pricing shows variation across DisCos and vendors. Eko DisCo lists its single-phase meter between โฆ135,987.5 and โฆ161,035, while three-phase meters range from โฆ226,600 to โฆ266,600.
Ibadan DisCoโs prices range from โฆ130,998 to โฆ142,548 for single-phase meters and โฆ226,556.25 to โฆ232,008 for three-phase units.
Abuja DisCo now charges between โฆ123,130.53 and โฆ147,812.5 for single-phase meters and โฆ206,345.65 to โฆ236,500 for three-phase units.
Kano Electricity Distribution Co. offers single-phase meters at โฆ127,925 to โฆ129,999, and three-phase meters at โฆ223,793 to โฆ235,425.
Kaduna DisCo prices are set at โฆ131,150 to โฆ142,548.94 for single-phase and โฆ220,375 to โฆ232,008.04 for three-phase units.
In April, NERC announced the deregulation of meter prices under the MAP scheme, aiming to address long-standing supply issues and improve pricing transparency.
The new system allows for competitive bidding, which NERC expects to drive down prices and enhance service quality as providers compete for contracts.
NERCโs policy shift also enables MAPs to operate across all distribution areas, although providers must still meet regulatory standards to ensure quality.
Before deregulation, prices were regulated and often subsidised, a model that aimed to make metering affordable but reportedly limited competition and transparency in the supply chain.
NERC anticipates that this open-market approach will foster a more dynamic metering ecosystem, benefiting both customers and DisCos through competitive pricing and improved accountability from providers.