The Electricity Distribution Companies (DisCos) have announced new prices for electricity meters in their franchise areas.

A post on their social media platforms indicated that the prices vary from one DisCo to another but the new price would take effect on Tuesday, November 5, 2024.

It would be recalled that the Nigerian Electricity Regulatory Commission (NERC) had in April deregulated the price of meters which allows DisCos and meter vendors to fix price according to economic dictates in the country that will enable producers to recoup their investment, while enabling the availability of meters.

NERC noted that this will allow competitive bidding rather than being centrally regulated. 

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According to the 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.

Checks showed that the price of a single phase meter in Eko DisCo has risen from N135,987.5 to N161,035, while three-phase meters moved from N226,600 to N266,600.