The Nigerian Electricity Regulatory Commission (NERC) has granted six states the power to regulate its own electricity markets.
The announcement was made on Tuesday, August 27, 2024, through a statement released by the commission on its official X (formerly Twitter) account.
The states affected by this decision are Enugu, Ekiti, Ondo, Imo, Oyo, and Edo. Each of these states has now established its own electricity regulatory agencies, which will take over the oversight of their respective electricity markets.
NERC described the change as the ‘Order of Transfer of Regulatory Oversight of the Electricity Market,’ shifting authority from NERC to the newly formed State Electricity Regulatory Commissions (SERCs) in these six states.
The commission stated: “These six states are now authorised to regulate its electricity markets following the transfer of authority from NERC, having established its electricity regulatory bodies.”
This move follows NERC’s earlier decision in April 2024 to cede regulatory oversight to the state governments of Enugu, Imo, Ekiti, and Ondo, which took effect on May 1, 2024.
This development marks a significant shift in how electricity markets are managed within these states, giving them more control over its energy resources and regulatory processes.
