By Abidemi Samuel
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In a significant move, the Nigerian government has transferred regulatory oversight of the electricity market in Lagos State to the Lagos State Electricity Regulatory Commission (LASERC). This decision, disclosed by the Nigerian Electricity Regulatory Commission (NERC) in a recent order, aligns with the Electricity Act, 2023, as amended.
With this transfer, LASERC will assume responsibility for regulatory duties in Lagos State, including setting electricity tariffs. The commission will play a crucial role in overseeing the electricity market in Lagos, ensuring efficient and reliable service delivery.
NERC has also directed Eko Electricity Distribution Plc (EKEDP) and Ikeja Electric Plc (IE) to establish subsidiaries within 60 days from December 5, 2024. These subsidiaries will assume responsibilities for the intrastate supply and distribution of electricity in Lagos State. This move aims to enhance the efficiency and effectiveness of electricity distribution in the state.
The transfer of regulatory oversight is expected to be completed by June 4, 2025. This development is part of a broader effort to decentralize electricity regulation and give states more control over their energy sectors.
Lagos is not the only state to receive regulatory oversight for electricity operations. Six other states – Enugu, Kogi, Ondo, Ekiti, Oyo, and Imo – have also been granted regulatory oversight. This trend suggests a shift towards decentralized electricity regulation, allowing states to take charge of their energy futures.
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