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.

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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.

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.

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