…sets deadline for completion of market oversight transfer in Enugu State by October 22, 2024

Oredola Adeola

The Nigerian Electricity Regulatory Commission (NERC) has transferred regulatory oversight of the electricity market in Enugu state to Enugu Electricity Regulatory Commission(EERC) in compliance with the amended constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended).

NERC therefore emphasised that all transfers envisaged by that particular order shall be completed by 22 October 2024.

This was contained in statement released by NERC and obtained by Advisors Reports on Monday.

According NERC with the Electricity Act (EA), the Commission retains the role as central regulator with regulatory oversight on the inter-state/international generation, transmission, supply, trading and system operations.

He 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.

“Based on this, the Government of Enugu State 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 Enugu State.

“NERC in the Order directed Enugu Electricity Distribution Company PLC (EEDC) to incorporate a subsidiary (EEDC SubCo) to assume responsibilities for intrastate supply and distribution of electricity in Enugu State from EEDC.

The order affirmed that EEDC shall complete the incorporation of EEDC SubCo within 60 days from 22 April 2024 and the subcompany shall apply for and obtain a licence for the intrastate supply and distribution of electricity from EERC, among other directives.

NERC therefore emphasised that all transfers envisaged by that particular order shall be completed by 22 October 2024.