An order on the Deregulation of Meter Prices for meters deployed under the Meter Asset Provider Scheme on Monday was released by the Nigerian Electricity Regulatory Commission.
According to reports, the new development was requested by the Meter Asset Providers and other operators to further review the prices of meters, owing to the significant changes in foreign exchange and inflation rates since the last price review of the prices of meters by NERC in September 2023.
“The commission has noted the need for the efficient pricing of meters to respond more quickly to changes in macroeconomic parameters, particularly exchange rates.
“The commission has further taken cognisance of the constraints/challenges faced by MAPs and LMMAs and therefore approved the deregulation of prices of meters deployed under the MAP scheme with effect from May 1, 2024,” NERC stated.
It added, “With effect from May 1, 2024, all prices of meters under the MAP scheme shall be determined through a competitive bidding process with customers provided with a choice of authorised vendors.”
It said the combined effects of sections of the regulations on the regulated pricing of meters deployed under the MAP scheme was as a result of this derogated.
“The cost of prices of meters deployed under the MAP scheme is hereby deregulated to enable end-use customers acquire meters from MAPs of their choice based on competitive open market prices determined from transparent bidding frameworks,” the commission stated.
It said, “All MAP permits holders are henceforth eligible to provide services and transact for the provision of meters and metering services with any Disco in the Federal Republic of Nigeria with their existing permit.
“The lifting of the restriction on permitting to operate in all Discos is subject to the mandatory requirement for MAPs to comply with the associated Disco specific requirements/specifications.
“All Discos shall ensure the effective and seamless integration of smart meters deployed by MAPs with the Disco’s head-end systems and meter data management systems.”