PeakNews Online
The Nigerian Electricity Regulatory Commission (NERC) has transfered regulatory oversight of the electricity market in Edo to the State Electricity Regulatory Commission (ESERC).
This is contained in a document posted on the commission’s website, a copy of which was obtained by the News Agency of Nigeria (NAN) in Abuja on Wednesday.
The commission recalled that with the Electricity Act (EA) 2023, NERC retained the role as a central regulator 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 request to NERC.
“The aim is to transfer regulatory authority over electricity operations in the state to the state regulator,’’ it said.
The commission said that based on this, the government of Edo complied with the conditions precedent in the laws, duly notified NERC and requested for the transfer of regulatory oversight of the intrastate electricity market to the state.
The commission said that the transfer order has the following provisions:
“Direct Benin Electricity Distribution Company (BEDC) to incorporate a subsidiary (BEDC SubCo) to assume responsibilities for intrastate supply and distribution of electricity in Edo from BEDC.
“The company shall complete the incorporation of BEDC SubCo within 60 days from Aug. 21, 2024.
“The sub company shall apply for and obtain licence for the intrastate supply and distribution of electricity from ESERC among other directives,’’ it said.
The commission said that all transfers envisaged by this order should be completed by Feb. 20, 2025. (NAN)
