… Says It’s At No Cost To Consumers
The Nigerian Electricity Regulatory Commission (NERC) has approved for disbursement to 11 Distribution Companies (DisCos) N21 billion as tranch “A” for metering nationwide under the Presidential Metering Initiative (PMI).
The NERC, which disclosed this through its Order “NERC/2024/072” on “Operationalisation of Tranche A of the Presidential Metering Initiative under the framework of Meter Acquisition Fund (MAF), said the meters will be distributed at no cost to the end users (Electricity consumers). The Order dated 19 June, 2024 was jointly signed by NERC Chairman, Sanusi Garba and Commissioner, Dafe C. Akpeneye.
NERC further explained that the N21 Billion which it has apportioned to the DisCos according to their respective contributions, was got from MAF which has accrued as at the April 2024 market settlement cycle up to N21,864,851,725.00.
It regretted that regulations provided several options in the past for metering end-use customers but the interventions, though significant, have not resulted in the closure of the national metering gap which currently stands in excess of seven million customers.
However, according to NERC, “The deployment of funds under the MAF scheme shall accelerate the deployment of meters and a closure of the current metering gap thereby reducing commercial & collection losses to DisCos, enhancing quality of service and improvement of customer satisfaction.
“While the NESI is expected to leverage on the revenue stream under the MAF framework to raise substantial capital funding for metering, there is an imperative to accelerate a closure of the metering gap for all customers currently classified under tariff Band A for the purpose of revenue protection and facilitating demand side management for the affected customers.
“The funds accrued as at the April 2024 market settlement cycle and available for procurement of meters under the first tranche of the MAF scheme is in the sum of NGN21,864,851,725.00 …
“The Commission hereby approves the use of a sum of NGN21,000,000,000 (twenty- one billion Naira only) apportioned pro rata to contribution by the DisCos as Tranche A of the MAF scheme.
“All the meters to be procured and installed under the MAF framework shall be at no cost to the customers of the DisCos.”
The breakdown of Tranche A disbursement allocation for each DisCo for the purchase of end-use customer meters are as follows:
Abuja Electricity Distribution Company (AEDC) N2,990,745,647, Benin Electricity Distribution Company (BEDC) N1,571,276,806, Eko Electricity Distribution Company (EKEDC) N2,921,896,285, Enugu Electricity Distribution Company (EEDC) N1,726,893,467, Ibadan Electricity Distribution Company (IBEDC) N42,516,469,752, Ikeja Electricity Distribution Company (IE)
N4,358,122,421 and Jos Electricity Distribution Company (JEDC)
N521,905,774.
Others are Kaduna Electricity Distribution Company (KAEDC) N1,220,367,039 Kano Electricity Distribution Company (KEDCO)
$1,568,029,563, Port Harcourt Electricity Distribution Company (PHEDC) N1,360,944,608 and Yola Electricity Distribution Company (YEDC)
N243,348,639.
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