• About
  • Advertise
  • Contact
Saturday, August 2, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Power

NERC Transfers Regulatory Oversight To Oyo Govt.

Vital News by Vital News
August 7, 2024
in Power
0
NERC Transfers Regulatory Oversight To Oyo Govt.
Share on FacebookShare on Twitter

The Nigerian Electricity Regulatory Commission (NERC) has granted Oyo State the authority to establish and regulate its own electricity market, in compliance with the amended Constitution and Electricity Act 2023.

The transfer of regulatory oversight from NERC to the newly create Oyo State Electricity Regulatory Commission (OSERC) will allow the state to manage its intrastate electricity generation, transmission, supply, and distribution,a statement said on Tuesday.

The agency has directed Ibadan Electricity Distribution Company (IBEDC) to incorporate a subsidiary, IBEDC SubCo, within 60 days to assume responsibilities for electricity supply and distribution within Oyo State.

According to the agency,the subcompany must apply for and obtain a license from OSERC for intrastate operations.

The transfer of regulatory authority is expected to be completed by February 5, 2025.

RelatedStories

FG Awards Contracts Worth N68.7bln For Power Projects In Universities, Teaching Hospitals

President Tinubu Meets Chairmen Of GENCOS, Pledges To Resolve N4 trillion Longstanding Debt Claims

KERC Moves to Decentralise Mini-grid Power Generation, Distribution

Amid Legal Battles Over Ownership, AMCON Sells IBEDC For N100billion

This move aligns with the amended Electricity Act 2023, which mandates states to establish their own regulatory bodies for intrastate electricity markets and notify NERC for the transfer of authority.

NERC ‘s statement reads in parts: “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 Oyo State from the Commission to the Oyo State Electricity Regulatory Commission (OSERC).

“Recall that with the EA 2023, the Commission retains the role as a central regulator with regulatory oversight on the inter-state and 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.

“Based on this, the Government of Oyo State complied with the conditions precedent in the laws, duly notified NERC and requested for the transfer of regulatory oversight of the intrastate electricity market in Oyo State”.

NERC listed the provisions of the transfer Order to include:direct Ibadan Electricity Distribution Company (IBEDC) to incorporate a subsidiary (IBEDC SubCo) to assume responsibilities for intrastate supply and distribution of electricity in Oyo State from IBEDC; IBEDC shall complete the incorporation of IBEDC SubCo within 60 days from 6th August 2024; and that the subcompany shall apply for and obtain licence for the intrastate supply and distribution of electricity from OSERC, among other directives.
(vitalnewsngr.com)

 

Tags: marketNERCOyoPower
Previous Post

DSS Interrogates 7 Polish Nationals Arrested In Connection With #EndBadGovernance# Protest In Kano

Next Post

IPC Condemns Attack On News Central Crew By #endbadgovernance# Protesters

Vital News

Vital News

RelatedStories

Work Ongoing To Re-Erect Three Towers Along Kainji-Birnin Kebbi Transmission Line – TCN
Power

FG Awards Contracts Worth N68.7bln For Power Projects In Universities, Teaching Hospitals

July 31, 2025
President Tinubu Meets Chairmen Of GENCOS, Pledges To Resolve N4 trillion Longstanding Debt Claims
Power

President Tinubu Meets Chairmen Of GENCOS, Pledges To Resolve N4 trillion Longstanding Debt Claims

July 25, 2025
KERC Moves to Decentralise Mini-grid Power Generation, Distribution
Power

KERC Moves to Decentralise Mini-grid Power Generation, Distribution

July 17, 2025
Amid Legal Battles Over Ownership, AMCON Sells IBEDC For N100billion
News

Amid Legal Battles Over Ownership, AMCON Sells IBEDC For N100billion

July 3, 2025
Kogi , ECN Partner On Clean Energy Transition
Power

Kogi , ECN Partner On Clean Energy Transition

July 1, 2025
Next Post
Protest : IPC Urges Journalists To Adopt Safety Measures

IPC Condemns Attack On News Central Crew By #endbadgovernance# Protesters

Paris 2024 : D ‘Tigeress Beat Canada 79 – 70 To Reach Q – Final

Paris Olympics 2024 : It Is Over For 'D Tigress As US Win 88 - 71

NYSC, ITF, Immigration Pledge To Strengthen Ties With Dangote Cement

NYSC, ITF, Immigration Pledge To Strengthen Ties With Dangote Cement

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Isese : OPC Urges FG To Relocate Kwara Capital From Ilorin Over Extremism

Isese : OPC Urges FG To Relocate Kwara Capital From Ilorin Over Extremism

2 years ago
Lagos Canvasses Understanding, Cooperation Between Police, Youths

Lagos Canvasses Understanding, Cooperation Between Police, Youths

3 years ago

NCPC Boss seeks increased synergy with media

3 years ago
Suleiman Replaces Baba-Ahmed As NEF’s Spokesman

Northern Elders Demand Justice For Kaduna Bombing Victims

2 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu
No Result
View All Result

Highlights

Hafsoh Killer, Abdulrhaman Bello To Die By Hanging, Court Discharges, Acquits 4 Others

FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

Canada Announces Plan To Recognise Palestinian State By September

Governor Alia Dissolves Benue Executive Council, Appoints New Chief of Staff

Dangote Cement Set To Commission 3Mta Grinding Plant In Côte d’Ivoire

Abdulrahim Thanks Governor Ododo Over Appointment as Governing Council Chairman Of Kogi College Of Nursing

Trending

NUC Team Pays Revalidation Visit To FUOYE, Lauds Visible Transformation Of Distance Learning Institute
Education

NUC Team Pays Revalidation Visit To FUOYE, Lauds Visible Transformation Of Distance Learning Institute

by Vital News
August 1, 2025
0

A delegation from the National Universities Commission (NUC) has paid a revalidation visit to the Distance Learning...

Work Ongoing To Re-Erect Three Towers Along Kainji-Birnin Kebbi Transmission Line – TCN

FG Awards Contracts Worth N68.7bln For Power Projects In Universities, Teaching Hospitals

July 31, 2025
Ododo Applauds President  Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway

Ododo Applauds President Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway

July 31, 2025
Hafsoh Killer, Abdulrhaman Bello To Die By Hanging, Court Discharges, Acquits 4 Others

Hafsoh Killer, Abdulrhaman Bello To Die By Hanging, Court Discharges, Acquits 4 Others

July 31, 2025
FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

FG Seeks Partnership With Dangote Cement To Bridge Housing Gap

July 31, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • NUC Team Pays Revalidation Visit To FUOYE, Lauds Visible Transformation Of Distance Learning Institute August 1, 2025
  • FG Awards Contracts Worth N68.7bln For Power Projects In Universities, Teaching Hospitals July 31, 2025
  • Ododo Applauds President Tinubu, Minister Of Works Over Ongoing Reconstruction, Expansion Of Abuja–Lokoja Highway July 31, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In