The Nigerian Electricity Regulatory Commission (NERC) has granted 69 firms permits to fund purchase, installment and replacement of meters to meet the 11 electricity distribution companies (Discos) metering gap and obligations to their customers.
The grants which were sequel to the commission’s approval of the Meter Asset Provider (MAP) Regulations 2018, were intended to facilitate closure of the wide metering gap in the Nigeria Electricity Supply Industry (NESI) within three years.
Under the inscription of ‘No Objection’, the new scheme is to qualify intending investors to participate in the meter procurement process in NESI which was launched in March this year. In May this year, 22 firms were announced by the electricity regulatory commission for the process which as at the end of July 2018 had grown to 69.
The commission said it arrived at the number of the firms, having conducted due diligence on the supporting documents to the applications submitted by interested investors, and granted successful applicants ‘No Objection’ to participate in the procurement process for meter assets provision in accordance with section 8 subsection 4 of the Meter Assets Providers Regulations, 2018.
Source: Daily Trust