I'd make it a one level Metamagic Rod with the usual lesser/normal/greater prices. It's not as good as what Empower would do if you allowed it to affect the number of targets (1-3 extra Mediums, case depending), and that's a two level Metamagic effect.
If you think that's too much, cut the prices in half like the zero level Metamagics. It is rather limited.
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