Techno Gas and Power has sealed a deal with a Bulgarian company, Incotex, to manufacture prepaid meters to meet the needs of millions of electricity consumers in Nigeria, The Punch reports.
According to the firm, the use of smarter prepaid meters would check these excesses and guarantee accountability in the industry as far as electricity consumption is concerned.
It also admitted that the case of some prepaid meters melting up in the course of usage and eventually packing up could be avoided if smarter meters were used as such meters would shut down if overloading was detected.
The firm stressed that the metering gap in the country was still very wide, and the situation provided a huge opportunity for businesses with the capacity to produce prepaid meters of global standards, which would, indeed, add value in the industry as far as accountability was concerned.
On its deal with Incotex, Techno said the strategic move was in line with the ongoing Federal Government’s power sector reforms, as it (Federal Government) had recently, in 2013, unbundled the entire Power sector.
Techno Gas and Power was among the few successful companies that were licensed by the National Electricity Regulatory Commission to manufacture metering systems in Nigeria under the auspices of the Credit Advance Payment for Metering Implementation scheme.
The company said it was not only licensed to manufacture meters but also licensed to install the meters as well as vend/bill application providers. Techno Gas and Power is a subsidiary of Techno Oil Limited.
Source: The Punch