IBEDC urges NERC to deregulate meter ownership and financing

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The management of Ibadan Electricity Distribution Company (IBEDC), on Tuesday urged the Nigerian Electricity Regulatory Commission (NERC) to deregulate the ownership of electricity meters in the country, Daily Trust reports.

Ms Angela Olanrewaju, Head, Corporate Communications Unit of the company said that part of the solution to address the metering gap in the country was for the agency to deregulate meter ownership and financing. She said that in a deregulated meter market, electricity customers or third parties should be able to finance and own electricity meters which they can move around with them when moving premises or relocating.

She said; “Implementation would require regulations guiding the procurement and ownership of meters by third parties and customers. Deregulating meter ownership would free up the balance sheets of DISCOs to absorb more liabilities, reduce electricity tariffs as the Regulatory Asset Base of DISCOs become lower.’’ Olanrewaju said the development would also allow DISCOs utilise their allowable Capital Expenditure more efficiently, to finance critical network infrastructure.