NERC Transfers Regulatory Oversight of Electricity Market in Ekiti to State Govt
The Nigerian Electricity Regulatory Commission (NERC), says it has transferred regulatory oversight of the electricity market in Ekiti State to the state Electricity Regulatory Bureau (EERB).
The commission said this in a statement posted on its website in Abuja on Tuesday.
The commission said the transfer complied with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended).
The statement recalled that with the Electricity Act (EA) 2023, the commission retains the role as a central regulator with regulatory oversight on the inter-state and international generation, transmission, supply, trading and system operations.
According to the statement, the Act also mandates any state that intends to establish and regulate intrastate electricity markets to deliver a formal notification of its processes.
The statement also said that the state had to request NERC to transfer regulatory authority over electricity operations in the state to the state regulator.
”Based on this, the government of Ekiti complied with the conditions precedent in the laws, duly notified NERC and requested for the transfer of regulatory oversight of the intrastate electricity market in Ekiti.
”The commission in the Order made the following provisions: direct Benin Electricity Distribution Company (BEDC) and Ibadan Electricity Distribution (IBEDC) Company to incorporate a subsidiary (BEDC SubCo and IBEDC SubCo).
”The two distribution companies are to assume responsibilities for intrastate supply and distribution of electricity in Ekiti State from BEDC and IBEDC.
”BEDC and IBEDC shall complete the incorporation of BEDC SubCo and IBEDC SubCo within 60 days from April 22.
”The sub-companies shall apply for and obtain licences for the intrastate supply and distribution of electricity from EERB, among other directives,” it said
The commission said that all transfers envisaged by the Order shall be completed by October 22.
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