News
Electricity Meter Costs Rise Again As Deregulation Takes Effect
Electricity Distribution Companies (DisCos) in Nigeria have announced another price hike for various electricity meter models, marking the second increase within four months.
As of November 5, 2024, single-phase meters are priced as high as N149,800, up from approximately N117,000, reflecting a 28.03% increase.
EDITOR’S PICKS
- NASU, SSANU Strike Nears End As FG Promises Payment Resolution
- Eredo LCDA Shares Update on Lawal Street Road Construction in Odomola
- Withdraw Tax Reform Bill From NASS – NEC Urges Tinubu
EKO HOT BLOG reports that three-phase meters have also seen a price surge, with costs varying by company and meter vendor.
The revised pricing aligns with the Nigerian Electricity Regulatory Commission’s (NERC) April directive that deregulated meter prices under the Meter Asset Provider (MAP) scheme.
This deregulation move shifts meter pricing to a competitive bidding structure rather than the previously centralised and often subsidised pricing model.
While NERC’s goal is to boost competition among meter providers and improve service quality, consumers are concerned about the growing cost burden and limited affordability.
Prices differ across DisCos, depending on meter models and vendor specifics. For instance, Eko DisCo prices range from N135,987 to N161,035 for single-phase meters and N226,600 to N266,600 for three-phase meters.
Electricity Meter
Ibadan, Abuja, Kano, and Kaduna DisCos show similar variation, with single-phase meters ranging between N123,130 and N147,812, and three-phase meters reaching up to N236,500 in some areas.
With deregulation now in force, NERC anticipates a more competitive metering landscape that should enhance cost transparency, accountability, and service efficiency for consumers.
However, MAPs must still meet regulatory standards to maintain quality. Previously, meter prices were regulated to ensure affordability but inadvertently limited competition.
NERC’s recent changes aim to address these issues, though concerns over affordability and accessibility remain high among Nigerian consumers.
FURTHER READING
- Allow Local Refiners In Petroleum Production –Reps Urge Nigerian Govt
- “I Didn’t Enjoy My Childhood” – Oluwadolarz Opens Up About Early Struggles
- BREAKING: ‘Agbako’ – Nollywood Actor Charles Olumo Is Dead
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
