Electricity Distribution Companies – including Ikeja Electric, Eko DisCo and others nationwide have increased the price of various electricity meter models – making it the second price hike in just four months.
According to the distribution companies, the cost of a single-phase meter has risen from approximately N117,000 to as much as N149,800. This amount indicates an increase of 28.03 per cent or N32,800, depending on the distribution company and meter vendor.
The new prices posted on the official X handle of the DisCos in Wednesday were scheduled to take effect retroactively on Tuesday, November 5. It also reflected the deregulation of meter asset providers as directed by the Nigerian Electricity Regulatory Commission (NERC).
It was learned that the upward revision followed an earlier increase in August 2024, further amplifying concerns among electricity consumers about affordability and accessibility.
An analysis of the documents revealed that meter prices vary across DisCos, influenced by vendors and meter models (single-phase and three-phase).
Eko DisCo pegged the price of its Single Phase Metre between N135,987.5 and N161,035, while a Three Phase Metre was pegged between N226,600 and N266,600.
For Ibadan DisCo, customers will pay between a range of N130,998 and N142,548 for a single-phase meter and N226,556.25–NN232,008 for a three-phase meter.
Customers under Abuja DisCo will pay N123,130.53–NN147,812.5 for single-phase meters and N206,345.65–NN236,500 for three-phase meters.
Kano Electricity Distribution said its customers will pay N127,925–N129,999 for a single-phase metre and N223,793–NN235,425 for a three-phase meter.
Kaduna DisCo said N131,150—N142,548.94 would be paid for single-phase meters and N220,375—N232,008.04 three-phase meters.
In April, the NERC introduced a significant policy shift by announcing the deregulation of meter prices under the Metre Asset Provider, (MAP) scheme for end-user customers.
According to NERC’s latest order, meter prices under the MAP scheme will now be determined through competitive bidding, rather than being centralised.
This shift is expected to foster greater competition among meter providers, ultimately improving cost efficiency and service delivery for end users.
The deregulation removes earlier operational restrictions, allowing MAP permit holders to provide metering services across all electricity distribution companies in Nigeria.
