Electricity Distribution Companies in Nigeria have announced a rise in meter prices, marking the second increase in four months.
Starting November 5, 2024, the cost of a single-phase meter has jumped from around N117,000 to as much as N149,800, varying by distribution company and meter vendor.
The recent price adjustment follows a new policy by the Nigerian Electricity Regulatory Commission to deregulate the Meter Asset Providers system, allowing meter prices to be set through competitive bidding instead of central regulation.
NERC introduced this shift in April, aiming to improve transparency and service delivery in meter supply.
Different DisCos have announced the following price ranges:
Eko DisCo: Single-phase at N135,987.5–N161,035; Three-phase at N226,600–N266,600
Ibadan DisCo: Single-phase at N130,998–N142,548; Three-phase at N226,556.25–N232,008.04
Abuja DisCo: Single-phase at N123,130.53–N147,812.5; Three-phase at N206,345.65–N236,500
Kano DisCo: Single-phase at N127,925–N129,999.75; Three-phase at N223,793–N235,425
Kaduna DisCo: Single-phase at N131,150–N142,548.94; Three-phase at N220,375–N232,008.04
The deregulation policy intends to foster competition among meter providers, which NERC believes will enhance both price efficiency and quality of meter services.
However, many consumers are worried about the rising costs and the impact on affordability.
Speaking on the issue, the Executive Vice Chairman of the Federal Competition and Consumer Protection Commission, Mr. Tunji Bello, on Tuesday stressed the importance of protecting consumer rights in the metering process. During a meeting with key electricity sector stakeholders, Bello expressed concern over what he described as “systemic inefficiencies” in metering and billing.
“Consumers’ rights in metering must be a priority,” Bello said. “The recent challenges, especially the arbitrary billing practices and the lack of transparency in metering, are unacceptable. We must ensure that consumers are treated fairly and that all practices adhere to the guidelines set out by regulatory bodies like NERC.”
