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Says ESERC takeover from NERC marks new era for state’s power sector
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The Commissioner for Power, Hon. Paul Usenbo, has applauded the Edo State Governor, Senator Monday Okpebholo, for the establishment of the Edo State Electricity Regulatory Commission (ESERC), describing the move as a major milestone in the state’s quest to take greater control of its electricity market and drive sustainable economic development.
Usenbo said the creation of ESERC demonstrates the Okpebholo administration’s commitment to building a stronger and more responsive electricity sector capable of addressing the power needs of residents, businesses, and industries across the state.
He noted that Edo State has now completed the regulatory transition provided for under the amended Electricity Act, with regulatory oversight of its intrastate electricity market transferred from the Nigerian Electricity Regulatory Commission (NERC) to ESERC, effective August 21, 2024.
According to him, the development represents a significant shift in the administration and regulation of electricity within the state and provides the institutional framework for Edo to play a more decisive role in shaping its electricity future.
“Edo State has completed the regulatory transition contemplated under the amended Electricity Act, with regulatory oversight of its intrastate electricity market transferred from NERC to ESERC effective 21 August 2024,” Usenbo said.
He, however, cautioned that the regulatory transition should not be mistaken for the completion of the entire restructuring process involving the state’s electricity distribution business.
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“The regulatory transition should not be conflated with completion of the full capitalization, asset/liability delineation and corporate restructuring of the distribution business,” he stated.
Usenbo explained that the next phase requires documentary confirmation of the incorporation and capitalisation of the designated successor entity, alongside the formal delineation and transfer of the relevant Edo State assets, liabilities, contracts, and personnel.
He stressed that completing these processes would be essential to providing clarity and certainty for all stakeholders in the state’s electricity market.
The legal and institutional developments, he said, should therefore be followed by coordinated action among the relevant authorities to ensure that the transition is fully implemented and that the benefits reach electricity consumers across Edo State.
“The Ministry of Power would be given the necessary directives ESERC and BEDC accordingly,” Usenbo added.
With the establishment of ESERC and the completion of the regulatory transition from NERC, Usenbo said Edo had taken a decisive step towards creating a more locally responsive electricity regulatory environment.
He expressed confidence that under Governor Okpebholo’s leadership, the emerging framework would help unlock new opportunities in the power sector and contribute to the administration’s broader development agenda for Edo State.
