The Nigerian Electricity Regulatory Commission (NERC) has given the green light to the deregulation of meter prices for DISCOS operating under the Meter Asset Provider (MAP) scheme.
This decision follows an adjustment made by the Commission in September 2023, where the price of a single-phase meter was raised from N58,661.69 to N81,975.16, and that of a three-phase meter from N109,684.36 to N143,836.10.
The latest adjustments were contained in ORDER NO: NERC/2024/040, issued by the Commission’s Chairman, Engr. Sanusi Garba, and Commissioner of Legal and Licensing Compliance, Barrister Dafe Akpeneye, on Monday.
The order titled, “The Deregulation of Meter Prices for Meters Deployed Under the Meter Asset Provider Scheme” signifies a significant shift in meter pricing regulation.
Effective from May 1, 2024, all meter prices under the MAP scheme will be determined through a competitive bidding process, offering customers a choice of authorised vendors.
NERC emphasised that the decision to review meter prices stemmed from requests by Meter Asset Providers (MAPs) and Local Meter Manufacturers Associations (LMMAs), who cited changes in the NGN/USD foreign exchange rate and inflation rate as factors affecting their ability to supply meters at the approved regulated price.
Acknowledging the need for more flexible pricing mechanisms, especially in response to macro-economic fluctuations, NERC stated that, “The Commission has further taken cognisance of the constraints/challenges faced by MAPs and LMMAs and therefore approved the deregulation of prices of meters deployed under the MAP scheme with effect from 1 May 2024.”
Under the new regime, meter prices will be determined based on competitive market prices established through transparent bidding frameworks. All MAP permit holders are now authorised to provide services and transact for meter provision and metering services with any DisCo in Nigeria, subject to compliance with DisCo-specific requirements/specifications.
Culled from : Bushradiogist.com
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