Home Electricity NERC grants Imo authority to regulate electricity market

NERC grants Imo authority to regulate electricity market

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The Nigerian Electricity Regulatory Commission (NERC) has issued an order transferring regulatory oversight of the electricity market in Imo to the Imo State Electricity Regulatory Commission (ISERC), in compliance with the Electricity Act 2023.

The order by the NERC Chairman, Sanusi Garba, and obtained by newsmen on Saturday, shall take effect from 1 July 2024.

According to the NERC, the government of lmo State has initiated the implementation of the provisions of the recent amendment to the constitution and the Electricity Act and complied with the conditions precedent in the laws mentioned above.

The state, desirous of assuming regulatory oversight of the intrastate electricity market in Imo State, duly notified the commission and requested for the transfer of regulatory oversight of the intrastate electricity market in Imo State in compliance with the provisions of the Electricity Act.

The order stated that Section 230(3) of the Act mandates the commission to develop a transition plan and timeline for the transfer of regulatory oversight of the intrastate electricity market from NERC to ISERC upon receipt of a formal notification from the State

Consequently, the commission directed the Enugu Electricity Distribution Company (EEDC) to incorporate a subsidiary (“EEDC SubCo”) under the Companies and Allied Matters Act for the assumption of 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 the effective date of this Order and, EEDC SubCo shall apply for and obtain a licence for the intrastate supply and distribution of electricity from ISERC.

“EEDC shall identify the actual geographic boundaries of Imo State and carve out its network in lmo State as a standalone network with the installation of boundary meters at all border points where the network crosses from Imo State into another state”, it was ordered.

Imo is the fourth state to get electricity regulatory authority after Enugu, Ondo and Ekiti States.

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