Electricity Distribution Companies (DisCos) in Nigeria have announced a hike in prepaid meter prices for various electricity meter models, marking the second price hike in four months.
According to DisCos, the cost of a single-phase meter has risen from approximately N117,000 to as much as N149,800, depending on the distribution company and meter vendor.
The new prepaid meter price hike, scheduled to take effect on Tuesday, November 5, 2024, reflects the deregulation of Meter Asset Providers (MAP) as directed by the Nigerian Electricity Regulatory Commission (NERC).
This upward revision follows an earlier increase in August 2024, further amplifying concerns among electricity consumers about affordability and accessibility.
Prices of Various Meters by DisCos
According to Nairametrics meter prices vary across DisCos, influenced by vendors and meter models (single-phase and three-phase). Below are the new average meter prices, inclusive of VAT:
Eko DisCo:
- Single Phase Meter: N135,987.5 – N161,035
- Three Phase Meter: N226,600 – N266,600
Ibadan DisCo:
- Single Phase Meter: N130,998 – N142,548
- Three Phase Meter: N226,556.25 – N232,008.04
Abuja DisCo:
- Single Phase Meter: N123,130.53 – N147,812.5
- Three Phase Meter: N206,345.65 – N236,500
Kano Electricity:
- Single Phase Meter: N127,925 – N129,999.75
- Three Phase Meter: N223,793 – N235,425
Kaduna DisCo:
- Single Phase Meter: N131,150 — N142,548.94
- Three Phase Meter: 220,375 — N232,008.04
This prepaid meter price hike can be attributed to NERC’s Order on the Deregulation of Meter Prices for the MAP Scheme.
More details to follow……..