The Commission's approval of the process must be fulfilled within 60 days for the installation of contracted volume meters, and all contracts for the supply and installation of meters must be submitted to the Commission. It further said, "The parties under the MAF scheme shall exhibit the highest degree of public trust and ethical standard and shall not engage in any conduct that may constitute unfair practice or conflict of interest."

 


DisCos will be able to install meters for customers within 60 days thanks to approval from the Nigerian Electricity Regulatory Commission (NERC) for a total of N21,000,000,000.


With more than 7 million subscribers, the Nigerian Electricity Supply Industry (NESI) has seen this development by the Commission as a step toward closing the metering gap.


The Meter Acquisition money, or MAF, Scheme was the umbrella for the money that NERC approved.


Remember that the main goal of the MAF Scheme, which was created by the Nigerian Electricity Regulatory Commission, was to address the issue of DisCo creditworthiness impeding the deployment of end-use meters under NESI by generating a reliable revenue stream from market funds with the hope that the utilities would be able to secure long-term financing.


The Nigerian Electricity Regulatory Board states that as of April 2024, 21,864, 851, 725.00 was the cash for the market settlement cycle that could be used to purchase meters under the MAF scheme's first tranche.


"The Commission hereby approves the use of twenty-one billion Naira as Tranche A of the MAF scheme, as apportioned pro rata to contribution by the DisCos."


"In the first tranche allocation, N2,990, 745,647 was given to Abuja Electricity Distribution Company (AEDC), N1, 571, 276, 806, to Benin Electricity Distribution Company (BEDC), N2,921,896,285 to Eko Electricity Distribution Company (EKEDC), N1,726,893,467 to Enugu Electricity Distribution Company (EEDC), and N2,516, 469,752 to Ibadan Electricity Distribution Company (IBEDC)."


The Commission also listed the following other companies: Yola Electricity Distribution Company, N 243,348, 639; Kaduna Electricity Distribution Company, KAEDC, N1,220, 367, 039; Kano Electricity Distribution Company, KEDCO, N1,568,029, 563; Port Harcourt Electricity Distribution Company, PHEDC, N1,360,944,608; and Ikeja Electricity Distribution Company, IE, with the amount of N4,358,122,421. Jos Electricity Distribution Company, JEDC, has the sum of N521, 905, 774; and other companies were mentioned by the Commission.


In a press release, NERC announced that all meters to be purchased and installed under the MAF framework will be provided at no cost to the DisCos' customers. The order, with the number NERC/2024/072, was tagged as Operationalization of "Tranche A" of the Presidential Metering Initiative.


Additionally, NERC revealed that the DisCos are required to guarantee that Know-your-Customer ("KYC") documentation is completed and to verify that the premises are prepared for metering at every customer site where MAF meters are to be installed.


"The DisCos will use the first tranche ("Tranche A") OF disbursement from the MAF scheme to purchase and install meters for unmetered Band "A" customers within their franchise areas. This is based on the contributions made by the DisCos as of the April 2024 market settlement and is attached to this Order as Schedule I.


"DisCos shall conduct a transparent and competitive procurement process for meter price determination, selection, and engagement of MAPs/LMMAs within 14 days of the effective date of this Order." Regarding the MAF scheme's end-use customer metering.


Within 20 days of this Order's effective date, a report detailing the steps taken in the selection of MAPs/LMMAs, including the list of customers to be metered, meter specifications, and price, must be submitted to the Commission for approval. The DisCo will enter into contracts with particular MAPs/LMMAs on one of the following terms following the Commission's approval.


"When a qualifying MAP/LMMA provides an Advance Payment Guarantee ("APG") issued by a commercial bank in Nigeria, the FM on behalf of the DisCo shall pay 30% of the contract value to the MAP/LMMA upon contract execution. Two more milestone payments will be issued after 60% of the stipulated quantities have been completed and 100% of the agreement, in that order, with the money advanced against the bank guarantee amortized throughout the course of the installments.


"Milestone payments shall be made following the verified installation of 20%, 60%, and 100%, respectively, of the contracted volume of meters, provided that the MAP/LMMA do not require an advance payment. The seller may choose to withhold payment until the agreed-upon quantities have been installed. It emphasized


It further said that DisCos would make sure that all the tools and network clearance needed to place meters in accordance with installation plans are supplied and/or finished by the MAP/LMMA.

The Commission's approval of the process must be fulfilled within 60 days for the installation of contracted volume meters, and all contracts for the supply and installation of meters must be submitted to the Commission.


It further said, "The parties under the MAF scheme shall exhibit the highest degree of public trust and ethical standard and shall not engage in any conduct that may constitute unfair practice or conflict of interest."

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