He said Nigeria is the only country where electricity consumers are made to pay for the service through estimated billing. He described the situation as shameful.
The Speaker said the estimated billing being used by electricity distribution companies (DisCos) was the biggest fraud in the history of the country.
When the proposed law is assented to by the President, it will become criminal for service providers to issue estimated bills, issuance of which would attract either a one-year jail term or a fine of N1m or both.
The proposed law would also compel a distribution company to provide prepaid meter to an applicant within 30 days, while barring the DISCOs from disconnecting the consumer after the 30-day period within which meter should be installed.