As was reported on these pages two weeks ago, the Nigerian Electricity Regulatory Commission had released ‘Credit Advance Payment for Meter Installation.’ This is for pre-paid meters.
But contrary to expectations, the CAPMI framework failed to name the unit cost of the meters to interested customers, while adding that each meter must be procured and installed by the PHCN within a maximum period of 45 days from the date of payment.
The scheme implies that PHCN will borrow money from electricity consumers to get them PPMs and subsequently refund it through a rebate on the monthly fixed charge.
A copy of the framework posted on NERC website on Wednesday says, “A framework has been developed where willing customers can advance money for the purchase and installation of electricity meters in their premises. These advance payments are subsequently refunded through a rebate on the fixed charge element of their electricity bills over time.”
Before rolling out the framework on Tuesday, the commission had got the Federal Government’s approval on Sunday to commence the PPM alternative funding scheme, having shown that it is the viable way of reducing the huge number of unmetered customers as soon as possible.
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