By Uzair Adam
Electricity Distribution Companies (DisCos) have announced another increase in the cost of various electricity meters, marking the second price adjustment in four months.
The new rates, which became effective on November 5, reveal a 28.03% rise in prices.
The Daily Reality learned that the cost of a single-phase meter has jumped from N117,000 to N149,800, depending on the specific distribution company and meter vendor.
The revised prices, disclosed on the DisCos’ official X (formerly Twitter) accounts, reflect the effects of a recent deregulation initiative by the Nigerian Electricity Regulatory Commission (NERC).
This deregulation, aimed at enhancing competition among meter providers, allows Meter Asset Providers (MAPs) to offer services across all electricity distribution companies, hoping to streamline prices and improve access.
An analysis of DisCos’ updated pricing shows a range based on different vendors and meter models.
Several reports indicate that Eko DisCo now charges between N135,987.50 and N161,035 for single-phase meters, while Abuja DisCo’s prices range from N123,130.53 to N147,812.50.
Kano DisCo customers are set to pay between N127,925 and N129,999 for similar meters. Additionally, three-phase meters show equally significant price hikes across the various DisCos.
This increase has raised concerns about affordability among electricity consumers, especially since a prior adjustment was made in August 2024.
NERC’s recent policy change, which now allows prices under the MAP scheme to be set through competitive bidding rather than central control, is expected to encourage competition and improve service quality.
However, customers have voiced worries about the mounting costs.Before the recent deregulation, meter prices were regulated and often subsidized across DisCos to keep costs manageable for consumers.
With the new policy, NERC aims for a more competitive landscape, where customers and DisCos may negotiate favorable deals with meter providers, improving both transparency and efficiency within the sector.