Electricity distribution companies in Nigeria raise meter prices for the second time in four months, impacting consumers nationwide.
Electricity Distribution Companies (DisCos) in Nigeria have announced an increase in the cost of electricity meters, marking the second rise in four months.
Starting on Tuesday, November 5, 2024, the price for a single-phase meter, typically used in residential settings, will range from N117,000 to N149,800, varying by DisCo and vendor.
While specific pricing details for three-phase meters, which are generally utilized in larger homes or commercial establishments, were not provided, it is confirmed that their costs have also risen.
This adjustment is in accordance with the recent policy from the Nigerian Electricity Regulatory Commission (NERC) under the Meter Asset Provider (MAP) scheme, which was introduced in April 2024.
This policy enables meter providers to establish prices through competitive bidding rather than adhering to fixed government rates, aiming to foster flexibility and attract further investment in meter supply.
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