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 notice to the public, stating that the actions 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.
The statement read: “As per 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 directed the Ondo State Electricity Regulatory Bureau (OSERB) to take over regulatory oversight of the state’s electricity market.”
The Benin Energy Distribution Company (BEDC), which is in charge of managing the state’s energy distribution, will now be subject to regulation by the recently established Ondo State Electricity Regulatory Bureau (OSERB).
The country’s electricity distribution was deregulated by the Electricity Act, which President Tinubu signed into law last year, giving state governments the authority to establish their regulators to manage electricity production and distribution in their respective states.
Similar orders were accepted by the NERC yesterday, establishing Enugu and Ekiti states as the nation’s first state-owned electricity regulators.
