Home Business Energy NERC Hands Over Regulatory Oversight Of Enugu Electricity To State Govt
Energy

NERC Hands Over Regulatory Oversight Of Enugu Electricity To State Govt

Share
Share

The Nigerian Electricity Regulatory Commission (NERC) , on Tuesday said it has transferred regulatory oversight of the Enugu electricity market to the State Electricity Regulatory Commission.

According to statement posted on its official website, that the transfer was in compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended).

It also mandates any state that intends to establish and regulate intrastate electricity markets to deliver a formal notification of its processes.

The statement also said that the state has to request 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.

”The Commission in the Order, made the following provisions: direct 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 company shall complete the incorporation of EEDC SubCo within 60 days from April, 22 and the sub company shall apply for and obtain a licence for the intrastate supply and distribution of electricity from the Enugu Electricity Regulatory Commission (EERC), among other directives.

”All transfers envisaged by this order shall be completed by October 22, 2024.”

With the Electricity ACT (EA), the commission retains the role as central regulator with regulatory oversight on the inter-state and international generation, transmission, supply, trading and system operations.

Share

Businesstoday Magazine

Businesstoday Conference/Awards

Related Articles

Boost For Nigeria’s Oil Production, As NNPC’s Utapate Crude Grade Hits Global Oil Market

…As OML 13 Asset Eyes 80,000 bpd by End of 2025  ...

NNPC Ltd Announces 1.8mbpd Production, Eyes 2mbpd by Year End

The Nigerian National Petroleum Company Limited (NNPC Ltd) and its partners have...

NNPC Ltd Announces Key Appointments 

The Board of Directors of NNPC Limited has announced strategic leadership appointments....

NNPC Ltd Set To Supply 100mmscf/d Gas To Dangote Refinery

L-R: Managing Director, Nigeria Gas Marketing Limited (NGML), Barr. Justin Ezeala and...