Abuja, June 20, 2023 – The Nigerian Electricity Regulatory Commission (NERC) has scheduled a meeting with stakeholders on July 2023 to discuss strategies and methods for the effective implementation of the 2023 Electricity Act.
The NERC said in a statement that it was ready to engage with other stakeholders and exchange ideas with the aim of establishing a sustainable electricity industry in the country.
“In pursuit of bringing to effect the laudable provisions of the electricity industry laws and to facilitate a smooth transition, the Commission has scheduled a stakeholder’s workshop to hold in July, with key stakeholders including market participants, state government representatives, and other key interested parties.
“The workshop shall serve as a platform for open dialogue and collaboration, enabling participants to discuss and commence the development of a robust roadmap for a successful implementation of multi-tier electricity markets.
“This proactive approach shall allow the Commission and other stakeholders to gather valuable insights, address concerns, and ensure the smooth implementation of the provisions of the new legislation,” it said.
NERC expressed appreciation to President Bola Ahmed Tinubu for successfully enacting the Electricity Act.
It highlighted the importance of granting autonomy to the states to generate, transmit and distribute electrify within their respective jurisdictions.
This development is seen as a major advancement in the Nigerian Electricity Supply Industry (NESI). NERC emphasized that the constitutional amendment and the passage of the Electricity Act 2023 represent a significant shift in the Nigerian power sector.
“It is anticipated that this new legislation will contribute to a sustainable enhancement in both the NESI and the overall economy of the country.”
NERC said the regulation of public utilities at the sub-national level, which has been introduced through the recent constitutional amendment and the 2023 Electricity Act, is a new concept in Nigeria.
It said this approach had already been effectively implemented in other countries such as India, Australia, Canada, and the United States of America, where clear distinctions are made between federal and state electricity regulation and markets.
NERC said it acknowledged the significance of drawing from the experiences and lessons of these jurisdictions to effectively address potential challenges and optimize the advantages presented by the changing power sector landscape.
“The Commission understands that to ensure an orderly and successful transition, there is an imperative for the collaboration of all stakeholders and the fostering of a harmonious working relationship,” it said. (GBN)
