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Business News of Friday, 25 August 2023

Source: www.legit.ng

'Upgrade now' - FG says 5.3 million prepaid meters set to crash over software expiration

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About 5.3 million Nigerian electricity consumers are facing a dilemma and the risk of being unable to recharge their prepaid meters after the Nigerian Electricity Regulatory Commission (NERC) sounded the alarm on software expiration by November next year.

Some electricity companies have warned their customers that they may be unable to recharge their prepaid meters by the end of 2023.

Global pre-paid meters to expire soon

Despite NCC's warnings, the notice is that most prepaid meters will expire in November next year.

According to reports, NERC has asked Distribution Companies (DisCos) to help customers upgrade their meters, warning that failure by consumers to upgrade their meters would make them face difficulty recharging in 2014.

A message posted on its handle on X, formerly Twitter, NERC revealed the process of updating would be free of charge, with customers expected to go to their DisCos and ask how to make the upgrade.

NERC said: "If you have a prepaid meter, it may be time for an update. From November 2024, you may not be able to recharge your meter. However, updating is easy and free.

"Discos shall commence issuance of two free Key Change Tokens (KCTs), which will update your meter," NERC stated in the message.

The message further revealed that the process will not impact the units loaded on the meters.

Ikeja Electric, others begin meter upgrades for customers

A message by Ikeja Electric said that despite NERC's indication that all current software for all prepaid meters worldwide, including Nigeria, would expire on November 24 due to TID rollover, customers could begin the upgrade sooner.

The company said that all customers with Standard Transfer Specification (STS) prepaid meters within its network who fail to upgrade are at risk of being in darkness from November 1, 2023.

Ikeja Electric disclosed that it had set a date for its TID rollover process.

Also, MOJEC, Nigeria's indigenous meter manufacturer, has begun supporting DisCos in providing upgrades for its customers.

Company offers to work with DisCos for meter upgrade

The company's managing director and chief executive officer, International Holdings in the power sector, confirmed that the deadline for the TID rollover migration is November 2024 and not 2023.

The MOJEC boss said NERC's order for DisCos and utilities, including meter manufacturers, to ensure compliance with TID rollover for Utility Software infrastructure upgrades to support the issuance of TID rollover Key Change Tokens and conformance of the electricity meters are already installed for customers.

Abdul said the TID rollover process is possible if the energy meters support the TID migration.

The statement by NERC newcomers after a meeting with about 11 distribution companies over tariff hikes.

The DisCos have stated that the current economic realities in the country make electricitytariff hikese possible.