The Eko Electricity Distribution Company (EKEDC) will meter all the customers within its areas of coverage by March 2021.
Mr Nosa Igbinedion, Head, Power Procurement and Regulatory Department, said this at an Extraordinary Tariff Review Stakeholders Consultation held at Lekki in Lagos on Wednesday.
The electricity distribution company is proposing to raise its average tariffs from N28.25 per kilowatt to N42.41 per kilowatt from April 1.
Igbinedion said that 245,915 customers had been metered while 253,768 customers were yet to be issued meters under the Meter Assets Providers (MAP) scheme approved by the Nigerian Electricity Regulatory Commission (NERC).
He said that to bridge the metering gap, EKEDC had engaged seven MAPs to meter customers.
According to him, with this renewed drive, all customers within its operational networks will be metered as soon as they indicate interests by applying for MAP and making payments.
Igbinedion said that customers were expected to pay N39,765.86 (VAT inclusive) for a single-phase meter and N72, 085.68 (VAT inclusive) for a three-phase meter.
He said the consultation was one of the requirements set by NERC before any Disco could review its tariff, noting that the proposed increment was aimed at achieving a cost reflective tariff.
Igbinedion explained that the last Multi Year Tariff Order (MYTO) was implemented in 2016 when the exchange rate was N198. 97 to one American dollar.
He said that the exchange rate had since moved up to N309. 97 to one American dollar.
He said that the inflation rate which was 8.8 per cent in 2016 had also gone up to 11.3 per cent.
He added that gas and other equipment used to power distribution and maintenance were bought from abroad.
Igbinedion said that the new tariff would enable the EKEDC to attract investors, embark on network rehabilitation and augmentation.
He added that it would be able to finance its daily operations and fulfill its obligations to other players in the electricity value chain.
However, two of the customers, Messrs James Olawale and Afeez Jamiu,who spoke, urged the Disco to put tariff increment on hold till it metered majority of the customers under its coverage.
They said that the increment would be unjustified without improvement in the power supply to customers.
