The Ministry of Energy (Power Division) signed on Monday a Transaction Advisory Services Agreement (TASA) with the International Finance Corporation (IFC), a member of the World Bank Group.
As per a statement, the IFC will act as transaction advisor and conduct a comprehensive techno-commercial assessment “for a service-provider model or public-private partnership framework to support the large-scale rollout of smart metering infrastructure for 10 million single-phase connections”. The initiative aims to attract local and international investors to install, maintain, and operate the infrastructure.
The ministry said it had also accelerated the digitization reform of the national power distribution network. The reform seeks to replace legacy systems with modern infrastructure, thereby enhancing transparency, operational efficiency, and long-term financial viability, it added.
“Advanced Smart Metering Infrastructure (AMI) forms the cornerstone of this transformation.
Smart meters provide real-time visibility of energy consumption, reduce theft through anomaly detection, improve billing accuracy and recovery rates, and eliminate manual errors by minimising human intervention.”
The ministry said that through an international competitive bidding process, it had reduced the price of both single-phase and three-phase smart meters by 40%, delivering substantial savings to the national exchequer and, ultimately, to consumers.
It added that all distribution companies were directed to install smart meters for every new electricity connection, with no traditional meters to be issued to new applicants. “In addition, all existing three-phase consumer meters must be converted to smart meters by a defined deadline, ensuring that commercial and industrial consumers are fully integrated into the digital system within the specified timeframe.”