The Nigerian Electricity Regulatory Commission (NERC) has announced the deregulation of meter prices under the MetER Assets Provider (MAP) scheme. This decision grants DisCos and meter manufacturers the authority to determine the prices of electricity meters nationwide.
The MAP scheme involves consumers paying for meters on behalf of their DisCos, which then repay the cost through electricity credits over a ten-year period.
Previously, meter manufacturers had campaigned for the liberalization of meter prices due to rising inflation and the cost of the dollar, which affected their profitability under NERC’s regulated pricing. Despite a price increase by NERC in September last year, manufacturers argued that they were operating at a loss due to continuous regulations.
According to the order signed by NERC’s Chairman, Sanusi Garba, and Commissioner of Legal, Licensing, and Compliance, Dafe Akpeneye, meter prices under the MAP scheme will now be determined through competitive bidding. Customers will have the option to choose from authorized vendors, promoting transparency and competition in the market.
Source: Daily Trust