Following the increase in the cost of electricity meters without regulatory approval, the Nigerian Electricity Regulatory Commission (NERC) may sanction the erring electricity distribution companies.
The distribution companies had increased the cost of acquiring prepaid meters by customers, citing the recent devaluation of the naira by the Central Bank of Nigeria.
With the hike, a single-phase meter now sells for N39,375, against its earlier price of N25,000. The three-phase meter, which was sold for N50,000 is now goes for N60,909.
It is understood that most of the meters in the Nigerian electricity market are imported as the industry is yet to fully patronise local meter manufacturers.
NERC chairman, Sam Amadi said that the agency did not approve the increase in the cost of meters by the distribution companies and was clear as to the consequences of such unilateral actions. “We (NERC) sanction when a violation is reported to us,” he said.
Prior to the hike in the cost of meters, NERC had mandated the electricity distribution companies to commence the implementation of the Credited Advance Payment for Metering Implementation (CAPMI), in view of the slow pace of customer metering by the DISCOs, as well as the high level of complaints received from customers over high estimated billings.
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