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Home » NERC Transfers Regulatory Functions To Additional Five States

NERC Transfers Regulatory Functions To Additional Five States

Destiny Eseaga by Destiny Eseaga
August 28, 2024
in News
0
Adelabu
Adebayo Adelabu, Nigeria's Minister of Power.

Adebayo Adelabu, Nigeria's Minister of Power.

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The Nigerian Electricity Regulatory Commission has authorised six additional states to regulate their electricity markets. The states include Enugu, Ekiti, Ondo, Imo, and Oyo.

A statement by the regulator on Wednesday said the states have set up electricity regulatory agencies and will be regulating the electricity market in their respective states.

Last week, it was reported that NERC had transferred function to the Edo State Electricity Regulatory Commission (ESERC).

NERC said the move complied with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended).

It would be recalled that with the EA 2023, the commission retained the role of a central regulator with regulatory 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 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.

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  • Destiny Eseaga

    My name is Destiny Eseaga, a communication strategist, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader world context. My passion lies in the world of finance, particularly, capital markets, investment banking, market intelligence, etc

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Destiny Eseaga

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