NERC grants six states authority to regulate electricity markets

The Nigerian Electricity Regulatory Commission (NERC) has given six states the authority to regulate their electricity markets on Tuesday.

In a statement by the Commission on X (Twitter), Enugu, Ekiti, Ondo, Imo, Oyo, and Edo States were authorised to regulate their electricity markets.

NERC confirmed that these states have established their electricity regulatory agencies and will now oversee the electricity markets within their jurisdictions.

In the statement, NERC said, “This regulatory measure can be referred to as the Order of Transfer of Regulatory Oversight of the Electricity Market in Oyo, Enugu, Edo, Imo, Ondo, and Ekiti States ‘from the Nigerian Electricity Regulatory Commission (NERC or the Commission)’ to the States Electricity Regulatory Commission (SERC).”

The statement read, “These six states are now authorised to regulate their electricity markets following the transfer of authority from NERC, having established their electricity regulatory bodies.”

In April, NERC announced that it had ceded the regulatory oversight of Enugu, Imo, Ekiti, and Ondo, which the state government owned with effect from May 1, 2024.