Bayelsa Gains Control Over Electricity Market as NERC Transfers Regulatory Oversight

The Nigerian Electricity Regulatory Commission (NERC) has transferred regulatory oversight of the electricity market in Bayelsa State to the Bayelsa Electricity Regulatory Agency.

This development, in line with the amended 1999 Constitution and the Electricity Act 2023, empowers Bayelsa State to regulate its electricity market, including generation, transmission, and distribution.

The transfer is expected to enhance the efficiency and effectiveness of the electricity market in Bayelsa State, allowing the state to issue licenses to investors within the value chain. Port Harcourt Electricity Distribution Company (PHED) has been directed to incorporate a subsidiary distribution company to take over the intrastate supply and distribution of electricity in Bayelsa State within 60 days.

With this development, Bayelsa State joins the ranks of other states in Nigeria that have been empowered to regulate their electricity markets, promoting investment and improving the overall performance of the electricity sector in the state. The transfer of regulatory oversight is a significant step towards improving the electricity market in Bayelsa State and enhancing the lives of its citizens.