BY AKUDORO GLORIA
In another development, the Nigerian Electricity Regulatory Commission (NERC) has issued an order to transfer regulatory oversight of the electricity market in Ekiti State to the Ekiti State Electricity Regulatory Bureau (EERB).
This is coming a day after NERC had issued the mandate to Enugu State Electricity Regulatory Commission (EERC) to regulate the electricity market within the state.
The Commission in a statement on Tuesday said the move is in compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 as Amended.
The Commission recalled that with the Electricity Act 2023, its retains the role as central regulator with regulatory oversight on the inter-state/international generation, transmission, supply, trading and system operations.
Its further stated that the Electricity Act 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.
NERC said based on this, the Government of Ekiti 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 Ekiti State.
In the Order provided, NERC Directed Benin Electricity Distribution Company (BEDC) and Ibadan Electricity Distribution Company PLC (IBEDC) to incorporate a subsidiary (BEDC SubCo and IBEDC SubCo) to assume responsibilities for intrastate supply and distribution of electricity in Ekiti State from BEDC and IBEDC.
NERC also emphasized that BEDC and IBEDC shall complete the incorporation of BEDC SubCo and IBEDC SubCo within 60 days from 22 April 2024 and the subcompanies shall apply for and obtain licences for the intrastate supply and distribution of electricity from EERB, among other directives.
The Commission noted that all transfers envisaged by this order shall be completed by 22 October 2024.
NERC however, urged the general public to visit its website on https://nerc.gov.ng/ for more detail of the Order.