The Nigerian Electricity Regulatory Commission (NERC) has issued an order to transfer regulatory oversight of the electricity market in Imo State from the Commission to the Imo State Electricity Regulatory Commission (ISERC).
This is in compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended).
NERC, however, following the
EA 2023, retains the role as the central regulator with regulatory oversight on the inter-state/international generation, transmission, supply, trading and system operations.
The Commission noted that the EA also mandates any state that intends to establish and regulate intrastate electricity markets to deliver a formal notification of its processes and requests NERC to transfer regulatory authority over electricity operations in the state to the State Regulator.
Based on this, it said, the Government of Imo State 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 Imo State.
NERC, in the order directed Enugu Electricity Distribution Company (EEDC) to incorporate a subsidiary (EEDC SubCo) to assume responsibilities for intrastate supply and distribution of electricity in Imo State from EEDC.
The Commission said, EEDC shall complete the incorporation of EEDC SubCo within 60 days from 27th June 2024.
It said, the sub-company shall apply for and obtain licence for the intrastate supply and distribution of electricity from ISERC, among other directives.
“All transfers envisaged by this order shall be completed by 31 December 2024”, NERC said.
Recall that the regulator has also issued an order for the transfer regulatory oversight of the electricity market in Enugu, Ekiti and Ondo States.
