Newscenter Media News The Nigerian Electricity Regulatory Commission (NERC) has transferred regulatory oversight of the electricity market in Lagos State to the state’s Electricity Regulatory Commission (LASERC).
NERC disclosed this in a statement issued on its X platform on Thursday.
The commission added that the development was in compliance with the amended provisions of the 1999 Constitution and the Electricity Act, 2023.
NERC added that the recently established LASERC will serve as a central regulator with regulatory oversight on the inter-state/international generation, transmission, supply, trading, and system operations.
The statement read: “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 Lagos State from the Commission to the Lagos State Electricity Regulatory Commission (LASERC).
“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.
“Based on this, the Government of Lagos 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 Lagos State.”
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