Index to Nigerian Newspapers

Consumers fault Discos as meter price hits N147,000

Electricity consumers in Nigeria have been protesting against the hike in prepaid meters prices announced by power distribution companies. The Electricity Consumers Protection and Advocacy Centre has accused the electricity sector of being structured to inflict hardships on the masses. After months of shutting down their meter application portals, some Discos have released revised prices of the product. The hiked prices follow the deregulation of meter sales by the Nigerian Electricity Regulatory Commission, giving room for vendors and buyers to sell meters at prices convenient to both sides. A single-phase meter rose from N88,000 to an average of N147,000, depending on the vendor. The new meter prices took effect from May 23, and customers would have their meter installed within 10 working days after payment had been made. The prices were as supplied by IBEDC meter vendor, Mojec Asset Management Company Limited. The Chief Executive Officer of Femadec Group, Fola Akinola, recently said that power distribution companies shut down their meter application portals because manufacturers and DisCos were regularising the prices of meters to reflect current economic realities. The NERC had released an order on the deregulation of meter prices under the MAP scheme, which stipulated that consumers should get energy credit as a refund for meters paid for. The Executive Director of the Electricity Consumers Protection and Advocacy Centre, Princewill Okorie, wondered why the Discos would be allowed to hike meter prices at a time when consumers are yet to come to terms with the Band A tariff hike. He claimed that the Discos, aided by NERC, have been extorting Nigerians by failing to abide by the MAP policy, which stipulates that consumers should get energy credit as a refund for meters paid for.

Dare Olawin | Economy | Punch Newspaper | Monday, May 27, 2024