The Nigerian Electricity Regulatory Commission (NERC) has issued an order to transfer regulatory oversight of the electricity market in Akwa Ibom State from the Commission to the Akwa Ibom State Electricity Regulatory Commission (AKSERC).

A statement on Wednesday also said the development was in compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended).

Recall that with the EA 2023, the Commission retains the role as a central regulator with regulatory oversight on the inter-state/international generation, transmission, supply, trading and system operations.

The EA also mandates any state that intends to establish and regulate intrastate 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.

The transfer Order by NERC has the following provisions: Direct Port Harcourt Electricity Distribution Plc (PHEDC) to incorporate a subsidiary (PHEDC SubCo) to assume responsibilities for intrastate supply and distribution of electricity in Akwa Ibom State from PHEDC.

It also directed PHEDC to complete the incorporation of PHEDC SubCo within 60 days from 18th August 2026.

According to the Order, the subcompany shall apply for and obtain a licence for the intrastate supply and distribution of electricity from AKSERC, among other directives.

It added that all transfers envisaged by this Order shall be completed by 17th February 2027.

Please follow and like us: