The Nigerian Electricity Regulatory Commission has issued an order transferring regulatory oversight of the electricity market inIn an order dated August 20 and signed by Musiliu Oseni, NERC’s vice-chairman, the commission said the directive would take effect immediately.n compliance with the amended Constitution of the Federal Republic of Nigeria and the Electricity Act 2023 .
“Recall that with the EA 2023, the Commission retains the role as a central regulator with regulatory oversight on the inter-state/international generation, transmission, supply, trading and system operations,” NERC said.“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.
Consequently, NERC said the Edo state government 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 the state. Therefore, NERC directed the Benin Electricity Distribution Company to incorporate a subsidiary “to assume responsibilities for intrastate supply and distribution of electricity in Edo state from BEDC”.“BEDC shall complete the incorporation of BEDC SubCo within 60 days from 21st August 2024. The subcompany shall apply for and obtain licence for the intrastate supply and distribution of electricity from ESERC, among other directives,” NERC said.