The Nigerian Electricity Regulatory Commission has directed the transfer of regulatory oversight of the electricity market in Ekiti from NERC to the Ekiti State Electricity Regulatory Bureau .
The electricity market in the Federal Republic of Nigeria was previously centralised and the move to decentralisation was achieved when presidential assent was granted to the amendment of relevant portions of the Constitution of the Federal Republic of Nigeria March 17, 2023. Hence the act mandates the Commission to develop a transition plan and timeline for the transfer of regulatory oversight of the intrastate electricity market from NERC to EERC, EERB and OSERB upon receipt of a formal notification from the State.
“A transfer of regulatory oversight notification shall be issued by the Commission to the companies in the register whose activities are limited within Ekiti and Ondo states informing the entities of the transfer/assumption of regulatory oversight for their activities by EERB and OSERB. All cross-border transactions involving the national grid shall be subject to the approval of the Commission in accordance with the CFRN and ΕΑ.
“BEDC and IBEDC shall complete the incorporation of BEDC SubCo and IBEDC SubCo within 60 days from 22 April 2024 and the sub companies shall apply for and obtain licences for the intrastate supply and distribution of electricity from EERB, among other directives. All transfers envisaged by this order shall be completed by 22 October 2024,” it stated.Before flagging, please keep in mind that Disqus does not moderate communities.
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