The Nigerian Electricity Regulatory Commission (NERC) has transferred its regulatory oversight of the electricity market in Lagos State to the Lagos State Electricity Regulatory Commission (LASERC).
A statement by the commission’s General Manager Public Relations, Ndid Mbah, which made this known said the action is in compliance with constitutional provisions and the amended Electricity Act, 2023.
“It is recalled that with the Electricity Act, 2023, the commission retains the role of a central regulator with regulatory oversight on inter-state/international generation, transmission, supply, trading and system operations.
“The Act also mandates any state that intends to establish and regulate intra-state electricity markets to deliver a formal notification of its processes and requests NERC to transfer regulatory authority over electricity operations in the state to the state regulator.
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“Based on this, the government of Lagos State complied with the conditions precedent in the laws, duly notified NERC and requested the transfer of regulatory oversight of the intra-state electricity market in Lagos State,” the statement stated.
Consequently, the commission directed the Eko
Electricity Distribution Plc to incorporate a subsidiary to assume the responsibilities for intra-state supply and distribution of electricity in Lagos State.
It further said that the power distribution company must complete the incorporation of a subsidiary within 60 days, adding that the said subsidiary must apply for and obtain a licence for the intra-state supply and distribution of electricity from LASERC by June 4, 2025.
