Nigerian DisCos Receive N21 Billion for Meter Procurement and Installation

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The eleven electricity distribution companies (DisCos) in Nigeria have received a total of N21 billion from the Meter Acquisition Fund (MAF) scheme to procure and install meters for unmetered Band ‘A’ customers within their franchise areas. This disbursement marks the first tranche from the MAF scheme based on contributions made by DisCos as of the April 2024 market settlement, according to the Nigerian Electricity Regulatory Commission (NERC).

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An order issued by NERC on the operationalization of ‘Tranche A of the Meter Acquisition Fund’ details the distribution of funds: Abuja Electricity Distribution Company (AEDC) received N2.99 billion, Benin Electricity Distribution Company (BEDC) N1.57 billion, Eko Electricity Distribution Company (EKEDC) N2.92 billion, Enugu Electricity Distribution Company (EEDC) N1.72 billion, and Ibadan Electricity Distribution Company (IBEDC) N2.51 billion. The remaining amounts went to Ikeja Electricity Distribution Company (IE) N4.35 billion, Jos Electricity Distribution Company (JEDC) N521 million, Kaduna Electricity Distribution Company (KAEDC) N1.22 billion, Kano Electricity Distribution Company (KEDCO) N1.56 billion, Port Harcourt Electricity Distribution Company (PHEDC) N1.36 billion, and Yola Electricity Distribution Company (YEDC) N243 million.

The MAF was introduced following the failures of previous programs like the Meter Asset Provider (MAP) Regulations 2018 and the Meter Asset Provider and National Mass Metering Regulations (MAP & NMMR) of 2021, which were aimed at addressing metering challenges in the Nigerian Electricity Supply Industry (NESI). The current metering gap exceeds 7 million customers.

NERC identified the inability of DisCos to secure financing as a major constraint in acquiring and deploying end-use meters. The MAF scheme was developed to address this challenge by creating a credible revenue stream from market funds, enabling long-term financing for utilities.

The Federal Government has approved the Presidential Metering Initiative (PMI) to close the metering gap within three years using smart metering technologies for data analytics. The MAF will be one of the revenue streams for repaying long-term financing for metering. NERC has deregulated meter prices under the MAP scheme to ensure efficient pricing through transparent and competitive bidding processes.

As of the April 2024 market settlement cycle, NGN21.86 billion was available for meter procurement under the first tranche of the MAF scheme. NERC approved the use of NGN21 billion, apportioned pro rata based on DisCo contributions, as Tranche A of the MAF scheme.

NERC emphasized the importance of accelerating the closure of the metering gap for customers in tariff Band A to ensure revenue protection and facilitate demand-side management.

Bisi Adele, The Naija247news
Bisi Adele, The Naija247newshttps://naija247news.com/
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