The Nigerian Electricity Regulatory Commission (NERC) has approved N21 billion for 11 electricity Distribution Companies (DisCos) to provide meters for customers.
”The inability of distribution companies (DisCos) to raise financing in the form of debt or additional equity was identified as the major constraint in the acquisition and deployment of end-use meters and other capital investments.
”The Meter Acquisition Fund (MAF) scheme was therefore, developed and approved by the commission, primarily to address the challenges of DisCos creditworthiness inhibiting the deployment of end-use meter in NESI.
”By creating a credible revenue stream from the market funds on the back of which long term financing may be secured by the utilities,” it said.
This move is part of the Presidential Metering Initiative under the Meter Acquisition Fund (MAF).
The meters will be procured and installed at no cost to customers.
The MAF aims to address challenges faced by DisCos in deploying end-use meters. By creating a credible revenue stream, it facilitates long-term financing for metering.
Additionally, NERC has deregulated meter prices under the MAP scheme to ensure efficient pricing and responsiveness to economic changes.
