NERC deregulates meters prices May 1

The Nigerian Electricity Regulatory Commission 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 said the significant changes in these macroeconomic variables had constrained the abilities of meter providers to supply meters at the approved regulated price.

“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 hereby derogated.

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