NERC Releases Meters Prices May 1.

Nigerian Electricity Regulatory Commission says it has released an order on the Deregulation of Meter Prices for meters deployed under the Meter Asset Provider Scheme.

It said, the prices of meters were deregulated after Meter Asset Providers and other operators requested a further review of meter prices in consideration of the significant changes in foreign exchange and inflation rates since the last price review of the prices of meters by NERC in September 2023.

It also said, the significant changes in these macroeconomic variables had constrained the abilities of meter providers to supply meters at the approved regulated price, and stressed the need for the efficient pricing of meters to respond more quickly to changes in macroeconomic parameters, particularly exchange rates.

The commission said, it has taken cognizance of the constraints and 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, adding that 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 authorized vendors.

PUN/KG