Again, NERC Transfers Regulatory Oversight Of Ondo Electricity Market To State Bureau

The state’s electrical regulatory bureau now has regulatory authority over the power market in Ondo state, previously held by the Nigerian electrical Regulatory Commission (NERC).

The NERC revealed this in a notification to the public, stating that the steps it took complied with the Electricity Act of 2023.

According to the commission, the Ondo state government notified it of its intention to control the state’s energy market, which was authorized, after meeting all legal conditions as outlined in the energy Act 2023.

It stated, “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).”

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By this order, the newly created Ondo State Electricity Regulatory Bureau (OSERB) will now regulate the Benin Electricity Distribution Company (BEDC) which oversees electricity distribution in the state.

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However, the transfer order by the NERC listed two main provisions which include; the BEDC to incorporate a new subsidiary to carry out electricity distribution in the state and the new sub distribution company would have to apply for distribution license from the Ondo State Electricity Regulatory Bureau (OSERB) in the next 60days.