By Victoria Onehi
The Nigerian Electricity Regulatory Commission (NERC) has issued an order to transfer regulatory oversight of the electricity market in Imo State from the Commission to the Imo State Electricity Regulatory Commission (ISERC).
This is in line with the compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended).
Recall that with the Electricity Act 2023, the Commission retains the role as the 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.
A statement by NERC disclosed that the Government of Imo State complied with the conditions precedent in the laws and requested for the transfer of regulatory oversight of the intrastate electricity market in Imo State.
The statement reads in part:
“The transfer Order by NERC has the following provisions: Direct Enugu Electricity Distribution Company (EEDC) to incorporate a subsidiary (EEDC SubCo) to assume responsibilities for intrastate supply and distribution of electricity in Imo State from EEDC.”
“EEDC shall complete the incorporation of EEDC SubCo within 60 days from 27th June 2024. The subcompany shall apply for and obtain licence for the intrastate supply and distribution of electricity from ISERC, among other directives.”
“All transfers envisaged by this order shall be completed by 31 December 2024.”
