Discos increase meter prices amid rising costs
The Electricity Distribution Companies (DisCos) have revealed new pricing for electricity meters across their franchise areas, with the adjusted rates set to take effect on Tuesday, November 5, 2024.
The price increase varies by DisCo, with a single-phase meter now costing between N117,000 and N149,800, depending on the distributor and meter vendor.
For example, Eko DisCo has raised the cost of a single-phase meter from N135,987.5 to N161,035, while the price of a three-phase meter has increased from N226,600 to N266,600.
This price adjustment follows the Nigerian Electricity Regulatory Commission’s (NERC) decision in April to deregulate meter pricing, allowing DisCos and meter vendors to set prices based on economic conditions.
NERC’s move was designed to encourage competitive bidding, ensuring that meter availability aligns with market dynamics and supporting producers in recovering their investments.
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