Electricity Distribution Companies otherwise known as DisCos, have announced an increase in prices for various electricity meter models. 

The latest increment makes it the second price hike in just four months. 

The cost of a single-phase meter has risen from approximately N117,000 to N149,800.

The new rate is also coming amid the nationwide blackout following the collapse of the national grid. 

The new rate depends on the distribution company and meter vendors. 

The price for the three-phase meter, which is often used for larger homes or commercial buildings, has also witnessed an increase. .

The new prices are scheduled to take effect on Tuesday. 

The price will also reflect the deregulation of Meter Asset Providers as directed by the Nigerian Electricity Regulatory Commission.

Recall that in April, the NERC introduced a significant policy shift by allowing more flexibility in meter pricing under the MAP. 

The move was aimed at addressing lingering issues surrounding meter supply and pricing transparency within the electricity sector. 

The NERC had also said the latest order, meter prices under the MAP scheme will now be determined through competitive bidding rather than being centrally regulated.