NERC Receives N21bn Approval From FG For Meter Acquisition

NERC Receives N21bn Approval From FG For Meter Acquisition....KINDLY READ THE FULL STORY HERE▶

The Nigerian Electricity Regulatory Commission (NERC) has approved N21 billion for 11 electricity Distribution Companies (DisCos) to facilitate the provision of meters to customers. This decision, detailed in NERC’s ORDER NO: NERC/2024/072 under the “Tranche A” of the Presidential Metering Initiative through the Meter Acquisition Fund framework, aims to address metering challenges in the Nigerian Electricity Supply Industry (NESI).

NERC introduced the Meter Asset Provider (“MAP”) Regulations in 2018 and later the Meter Asset Provider and National Mass Metering (“MAP&NMMR”) Regulations in 2021 to tackle these challenges. Despite these interventions, the national metering gap remains substantial, impacting over seven million customers.

The order, signed by NERC Chairman Mr. Sanusi Garba and Commissioner Legal Dafe Akpeneye, will be effective from June 2024 and can be amended or revoked through subsequent orders. NERC has allocated N21 billion, distributed proportionately among DisCos as Tranche A of the MAF scheme. Detailed funding breakdowns for each DisCo are provided in Schedule 1 attached to the order.

Under this initiative, all meters procured and installed under the MAF framework will be provided at no cost to customers of the DisCos. The initiative addresses the financial constraints faced by DisCos in raising funds for meter deployment and other capital investments, ensuring credible revenue streams to facilitate long-term financing for utilities.

Overall, the MAF scheme is a strategic step by NERC to enhance metering across NESI, aiming to improve service delivery and customer satisfaction in the electricity distribution sector in Nigeria.

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