The Nigerian Electricity Regulatory Commission (NERC) has announced the deregulation of meter prices under the Meter Asset Provider (MAP) Scheme. This change will be effective from May 1, 2024.
The new order introduces a competitive bidding process, allowing customers to choose from a variety of authorized vendors2. This shift from the previously regulated pricing structure is expected to foster transparency and reduce prices, as customers will have the freedom to select their preferred meter providers among those authorized under the scheme.
However, this deregulation implies that Nigerians will have to pay more to get electricity meters. Previously, customers were paying CAP prices of N81,975.16 and N143,836.16 for single and three-phase meters, respectively. Now, the prices will be determined by the meter providers.
