The Nigeria Electricity Regulatory Commission (NERC) on Monday announced the deregulation of meter prices under the Meter Asset Provider (MAP) scheme for customers.
A circular issued by the Commission indicates that from May 1, 2024, customers will have the option of obtaining their meters from approved vendors through a competitive bidding process, marking a significant shift from the regulated pricing regime.
The deregulation will remove previous restrictions, enabling licensed MAP holders to provide services to all Electricity Distribution Companies (DisCos) across the country.
The regulator says it believes the move will lead to the provision of better metering services and solutions due to increased competition, reduce prices as well as foster transparency.
As part of the development, DisCos will now offer different types of meters to customers, who will be at liberty to choose depending on their energy consumption profile. It also stipulates that MAP’s must have at least a minimum of 2000 units of meters in stock to be eligible for the bidding process.
