According to PUNCH reports, the Nigerian Electricity Regulatory Commission (NERC) has granted Imo State the authority to regulate its own electricity market, marking a significant step towards decentralization in the power sector.
The transfer of regulatory oversight to the Imo State Electricity Regulatory Commission (ISERC) takes effect from July 1st, 2024, in line with the Electricity Act 2023.
This move follows Imo State's proactive implementation of provisions in the amended constitution and the Electricity Act, fulfilling the necessary conditions for assuming regulatory control.
The state government, through ISERC, formally requested the transfer, demonstrating its commitment to managing local electricity needs.
The NERC order, signed by Chairman Sanusi Garba, clarifies the transition process, directing the Enugu Electricity Distribution Company (EEDC) to establish a subsidiary, "EEDC SubCo," dedicated to intrastate electricity supply and distribution within Imo State.
EEDC is obligated to complete the incorporation of EEDC SubCo within 60 days, and the subsidiary must then apply for and obtain a license from ISERC.
Additionally, EEDC is required to clearly define Imo State's network as a separate entity, installing boundary meters at all points where the network crosses into other states.
This development marks Imo as the fourth state in Nigeria to gain control of its electricity market, following Enugu, Ondo, and Ekiti.