The Nigerian Electricity Regulatory Commission (NERC) has issued an order transfering regulatory oversight of the electricity market in Akwa Ibom State from the Commission to the Akwa Ibom State Electricity Regulatory Commission (AKSERC).
In a statement issued Wednesday, NERC said the move 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.
In the order, the Commission directed 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.
“PHEDC shall complete the incorporation of PHEDC SubCo within 60 days from 18th August 2026. The subcompany shall apply for and obtain licence for the intrastate supply and distribution of electricity from AKSERC, among other directives.
“All transfers envisaged by this Order shall be completed by 17th February 2027,” it further stated.
