Ademola Adeleke, the Governor of Osun State, has revealed that his administration intends to create an action plan for the development of a policy and legislation for the Osun State Electricity Market.
In light of the recent constitution amendment granting state governments the authority to regulate the electricity market within their jurisdictions, Governor Adeleke, in a statement on Monday, directed the establishment of a technical committee to formulate a state policy plan for the management of the power sector in the state.
The Governor emphasized that the committee’s objective is to produce a comprehensive plan for the establishment of the Osun State Electricity Market Policy and a draft Executive bill to be known as the Osun Electricity Act.
The statement outlined that the new policy will encompass the establishment of the Osun State Electricity Regulatory Commission, responsible for granting licenses to private companies interested in power production and overseeing interactions among power generators, distributors, and consumers within the sector.
Furthermore, the planned policy aims to facilitate private sector investments in the state’s electricity sector and promote the adoption of alternative energy sources, including renewable and other green power sources.
The statement also mentioned the intention to electrify all towns and villages in Osun State, ensuring access to power supply through initiatives such as mini-dams and other energy sources.
Governor Adeleke, pledging to inaugurate the committee soon, also expressed the intention of seeking the support of the National Electricity Regulatory Commission (NERC) for the state’s electricity market plans.
Additionally, he informed the state that he will soon submit Executive bills to the legislature, including the Osun State Startup Bill, the Osun State Climate Action Bill, and the State Electricity Market Bill.