NERC Transfers Electricity Market Regulatory Oversight to Imo Govt.
The Nigerian Electricity Regulatory Commission (NERC), says it has transferred regulatory oversight of the electricity market in Imo State to the State Electricity Regulatory Commission (ISERC).
The commission said this in a statement posted on its website in Abuja on Monday. The commission said that the transfer was in compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN), and the Electricity Act 2023 (Amended).
It quoted the NERC as saying that it has issued an order to transfer regulatory oversight of the electricity market in Imo from the commission.
The commission said with the Electricity Act (EA) 2023, it retains the role as the central regulator with oversight on the inter-state/international generation, transmission, supply, trading and system operations.
“The EA also mandates any state that intends to establish and regulate intra-state electricity markets to deliver a formal notification of its processes and requests to NERC. To transfer regulatory authority over electricity operations in the state to the state regulator.
“Based on this, the government of Imo complied with the conditions precedent in the laws, duly notified NERC and requested for the transfer of regulatory oversight of the intra-state electricity market to the state, ‘’ it said.
The transfer order by NERC had the following provisions: Direct Enugu Electricity Distribution Company (EEDC) to incorporate a subsidiary (EEDC SubCo) to assume responsibilities for intra-state supply and distribution of electricity in Imo from EEDC.
“The EEDC shall complete the incorporation of EEDC SubCo within 60 days from June 27. The sub company shall apply for and obtain a licence for the intra-state supply and distribution of electricity from ISERC, among other directives, ‘’ it said.
The commission in the statement said that all transfers envisaged by this order shall be completed by Dec. 31. NERC had also transferred regulatory oversight of the Enugu and Ekiti electricity market to the State’s Electricity Regulatory Commission. GTCO, ACCESS, UBA Drive Midday Rally on NGX
