NERC Approves 21 Billion Naira For Discos to Meter Customers
The Nigerian Electricity Regulatory Commission NERC, has approved the sum of twenty one billion naira for the eleven electricity Distribution Companies to provide meters for customers.
This is contain in an order released by NERC on the Operationalization of “Tranche A” of the Presidential Metering Initiative Under the Framework of Meter Acquisition Fund.
The Commission says the Distribution companies are to buy and install the meters for customers under the Meter Acquisition Fund free of charge.
The Commission notes that the Meter Acquisition Fund scheme was developed and approved by the Commission to address the challenge of Distribution companies credit worthiness inhibiting the deployment of end-use meter by creating a credible revenue stream from the market funds on the back of which long term financing will be secured by the utilities.
NERC states that the deployment of funds will accelerate the deployment of meters for all customers currently classified under tariff Band “A” for the purpose of revenue protection and facilitating demand side management for the affected customers.
