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NERC transfers regulatory oversight of Oyo electricity market to state government

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NERC has issued an order transferring regulatory oversight of the electricity market in Oyo to the state’s electricity regulatory commission.

The Nigerian Electricity Regulatory Commission has issued an order transferring regulatory oversight of the electricity market in Oyo to the state’s electricity regulatory commission.e directive would take effect immediately.

“Ibadan Electricity Distribution PLC is hereby directed to incorporate a subsidiary under the Companies and Allied Matters Act for the assumption of responsibilities for intrastate supply and distribution of electricity in Oyo State fron IBEDC,” the order reads.“IBEDC shall complete the incorporation of IBEDC SubCo within 60 days from the effective date of this Order and, IBEDC SubCo shall apply for and obtain a licence for the intrastate supply and distribution of electricity from OSERC.

According to the order, as part of the transition process, IBEDC is mandated to create an asset register of all its power infrastructure located within Oyo state.The commission also said the DisCo would evaluate and apportion “contractual obligations and liabilities attributable to IBEDC’s operations of its subsidiary in Oyo State”.

 

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