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FG to Cap Estimated Electricity Bills

  • FG to Cap Estimated Electricity Bills

In a bid to ensure that Nigerians paid the exact amount for power consumed, the Federal Government has perfected plans to cap estimated electricity bills issued to unmetered customers by power distribution companies.

Mr James Momoh, the Chairman, Nigerian Electricity Regulatory Commission, disclosed this in Abuja on Monday.

He said power distributing companies that fail to provide meters to customers would only be allowed to issue a limited sum as estimated bills to their customers.

He said, “We will do everything within our powers to ensure that electricity distribution companies provide meters through the Meter Asset Providers to their customers.

“Failure to do so, we have a back-up plan, which is one of our regulations that would be out in about a month’s time on capping.”

“In the regulation, we will put a maximum amount which the Discos can charge a customer that it had not been able to provide meter for. In fact, it would be to their advantage to provide meters.”

He added that the limit would force power distributors to provide meters to customers, adding that it would also compel customers to demand meters in order to ensure they are paying the right amount.

“The capping issue is a win-win situation for customers to want our meters and for Discos to want to provide meters,” he said.

He, however, said the regulated fee is to protect power users by ensuring they are not overcharged.

“The maximum we are going to allow them (Discos) to charge will not be to the advantage of power distributors in the long run,” Momoh stated.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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