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.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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