NERC deregulates meter prices

...Customers to pay N143,836 per 3-phase meter

THE Nigerian Electricity Regulatory Commission (NERC) on Monday, ordered the deregulation of meter prices deployed under the Meter Asset Provider (MAP) Scheme.

In a circular sighted by Businessday which was jointly signed by the commission’s Chairman, Sanusi Garba, and its Commissioner, Legal, Licencing and Compliance, Dafe Akpeneye, the commission stated that effective from 1 May 2024, all prices of meters under the MAP scheme will be determined through a competitive bidding process, providing customers with a choice of authorised vendors.

It stated that the cost of prices of meters deployed under the MAP scheme is deregulated to enable end-use customers acquire meters from MAPS of their choice based on competitive open market prices determined from transparent bidding frameworks.

With the deregulation, the cost of meters have been adjusted from N58,661.69 to N81,975.16 for a single phase meter, and from N109,684.36 to N143,836.10 for a threephase meter.

“MAPS and LMMAS have requested a further review of meter prices in consideration of significant changes in NGN/USD foreign exchange rate and inflation rate since the last price review in September 2023, and the significant changes in these macroeconomic variables have constrained their ability to supply meters at the approved regulated price.

“The Commission has noted the need for the efficient pricing of meters to respond more quickly to changes in macroeconomic parameters, particularly exchange rates. 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.

“All MAP permits holders are henceforth eligible to provide services and transact for the provision of meters and metering services with any Disco in the Federal Republic of Nigeria with their existing permit.