Electricity distribution companies in Nigeria are facing fresh financial pressure after the Nigerian Electricity Regulatory Commission (NERC) directed them to refund N20.33 billion to customers. The directive affects consumers who paid for prepaid meters under the Meter Asset Provider scheme.
According to the regulator, the refunds must be completed within twelve months. The amount will be credited to customers through their electricity bills in equal installments during the repayment period.
Industry stakeholders say the directive comes at a time when many distribution companies are already facing serious liquidity challenges. They warn that the refund could further strain the finances of operators in the electricity sector.
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The Meter Asset Provider scheme was introduced to reduce estimated billing and close Nigeria’s metering gap. However, delays in meter installations and reimbursement disputes have continued to generate complaints from electricity consumers.
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