The Nigerian Electricity Regulatory Commission has transferred regulatory oversight of the electricity market in Ondo state to the state’s electricity regulatory bureau.
This was disclosed by the NERC in a public notice noting that its actions were in line with the provisions of the Electricity Act of 2023.
The commission pointed out that the commission approved the request to regulate the electricity market by the Ondo state government, having fulfilled the requirements of the law stipulated in the Electricity Act 2023.
The statement reads, “In compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended), the Nigerian Electricity Regulatory Commission (NERC or the Commission) has issued an order to transfer regulatory oversight of the electricity market in Ondo State from the Commission to the Ondo State Electricity Regulatory Bureau (OSERB).”
Consequently, the newly created Ondo State Electricity Regulatory Bureau will now oversee the regulation of the Benin Electricity Distribution Company which oversees electricity distribution in the state.
Electricity distribution throughout the country has been deregulated by a law signed last year by President Tinubu, which empowered State governments to set up their regulators for monitoring electricity generation and distribution within their territories.
The NERC had also recently approved similar orders for Enugu and Ekiti states.
