NERC has disbursed N21bn to Discos to close the 7 million metering gap across Nigeria.
NewsOnline Nigeria reports that the Nigerian Electricity Regulatory Commission (NERC) has approved the disbursement to 11 Distribution Companies (DisCos) N21 billion as tranch “A” to close the seven million metering gap nationwide under the Presidential Metering Initiative (PMI).
This Nigeria news platform understands that 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).
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The NERC chairman Sanusi Garba and commissioner legal, licencing, and compliance, Dafe Akpeneye jointly signed the order dated 19, June.
The electricity regulator further explained that the N21 billion that it has apportioned to the DisCos according to their respective contributions, was obtained from MAF which has accrued as of the April 2024 market settlement cycle up to N21,864,851,725.00.
It regretted that despite several interventions in the past for metering end-use customers, the national metering gap persists which currently stands at more than seven million customers.
The NERC expressed optimism that the latest metering interventions would improve customer satisfaction with the distribution companies.
“The deployment of funds under the MAF scheme shall accelerate the deployment of meters and closure of the current metering gap thereby reducing commercial & collection losses to DisCos, enhancing quality of service, and improving customer satisfaction.
“While the Nigeria Electricity Supply Industry-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 closure of the metering gap for all customers currently classified under tariff Band A for revenue protection and facilitating demand side management for the affected customers, “NERC stated.
The regulator also disclosed that the funds accrued as of the April 2024 market settlement cycle and available for procurement of meters under the first tranche of the MAF scheme are in the sum of NGN21,864,851,725.00.
“The Commission hereby approves the use of a sum of NGN21,000,000,000 (twenty-billion Naira only) apportioned pro rata to contribution by the DisCos as Tranche A of the MAF scheme,”NERC stated.