Following the order to electricity Distribution Companies (DisCos) by Nigerian Electricity Regulatory Commission (NERC) to reimburse customers, who paid for acquisition of meters under the Meter Assets Provider (MAP) initiative, Kaduna Electric has announced the commencement of making refunds to customers who bought meters under the MAP scheme.

The company disclosed this, yesterday, in a statement signed by its Head of Corporate Communication, Abdulazeez Abdullahi.

“Management is delighted to inform its esteemed customers that it has since commenced repayment of the cost of meters to customers, who purchased their meters through the MAP scheme,” it stated.

According to NERC, meters have an average useful life of 10 years and the adoption of a 10-year repayment cycle for reimbursement aligns with the current term sheet adopted by the Central Bank of Nigeria (CBN) and other financial institutions for meter acquisition loans.

Kaduna Electric said the repayment could be through energy tokens whenever a customer makes a purchase in line with NERC directives, adding that the repayment would be completed in 36 months from the first instalment.

Earlier this month, NERC reviewed the costs of Single Phase and Three-phase meters to N88,123 and N154,622 respectively.

With the new development, Kaduna Electric advised its customers to hurry and purchase their meters through its MAP vendors.