THE NATION
The Nigerian Electricity Regulatory Commission (NERC) has issued an order to deregulate prices for meters under the Meter Asset Provider (MAP) Scheme effective on May 1, 2024, following requests for further price reviews due to foreign exchange and inflation rate changes.
NERC established that the capacity of meter providers to supply meters at the authorised, regulated cost had been limited due to the notable fluctuations in these macroeconomic indicators.
NERC said: “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.
It emphasised that all meter costs under the MAP programme would be set via a competitive bidding procedure starting on the specified date, giving customers a choice of approved vendors.
