Electricity Distribution Companies in Nigeria, commonly called DisCos, have announced an increase in prices for electricity meters.
The development makes it the second price hike in just four months. The increased prices will start on Tuesday, November 5, 2024.
The cost of a single-phase meter, a common type for household use, will now range from about N117,000 to as much as N149,800, depending on the DisCo and vendor. The price for the three-phase meter, which is often used for larger homes or commercial buildings, has also seen a rise, although specific figures were not provided in this announcement.
The change in prices follows a recent move by the Nigerian Electricity Regulatory Commission (NERC) to allow more flexibility in meter pricing. This decision, announced in April 2024, was part of a new policy termed the Meter Asset Provider (MAP) scheme.
Under this scheme, meter providers are no longer restricted by fixed prices set by the government. Instead, they can set their prices through competitive bidding.