By Alex Onovo
The Nigeria Electricity Regulatory Commission (NERC) has stated that it has licensed 17 new electricity distribution companies (DisCos).
NERC revealed that 10 of the newly licensed DisCos have already begun operations, while the new licensing is meant to boost competition in the industry.
According to NERC, it prepared the market competition report in compliance with Section 24(2) of the Electric Power Sector Reform Act 2004, which authorizes the commission to prepare an annual report for the minister regarding the potential for competition in the Nigerian Electricity Supply Industry.
Information reaching us is that the commission stated that the report reviews the level of competition in the NESI and assesses the improvement for a transition to a more competitive market.
It also provides recommendations for transition to a more competitive market regarding Section 26 of ESPRA.
It is unclear if the newly licensed DisCos have the resources to cater to the electricity needs of Nigerian consumers who constantly flay electricity supply in Nigeria.
The Regulatory Commission also advised all electricity consumers in Nigeria using prepaid meters to update their meters before November 24th, 2023.
NERC earlier released the message to prepaid meter users through its official Twitter account on Tuesday, August 22, 2023, urging electricity consumers to take note of the deadline.