To guarantee effective power supply in Ekiti, the Nigerian Electricity Regulatory Commission (NERC), has ceded its regulatory oversight of the electricity market to the Ekiti State Electricity Regulatory Bureau (EERB).
NERC said that while it exercises regulatory oversight of the Nigerian Electricity Supply Industry (NESI) as the major regulatory agent in accordance with powers conferred by the Electricity Act 2023, its current ceding was part of the legal requirement to decentralise the operations of Gencos and DisCos in Nigeria, as well as even the single Transco.
The new arrangement has been announced so far for Ekiti and Enugu and Ondo States, which have existing Electricity regulatory Bureau established through laws enacted by their respective Houses of Assembly and who have met other constitutional provisions.
Under this lofty power distribution decentralisation policy, the electricity tariffs that will be payable in Ekiti shall be subject to ratification by EERB and all relating protective policy for customers shall be the responsibility of the Ekiti State Government.
The NERC explained that the decentralisation policy was achieved when presidential assent was granted to the amendment of relevant portions of the Constitution of the Federal Republic of Nigeria (CFRN) on 17 March, 2023.
With this power concession move, which shall be effective from May 1, 2024, the EERB will now regulate electricity market in the state, while also working in synergy with NERC being the statutory national body to oversee power distribution across the nation.
Credit: The nation