Eko Power Says It Is Complying With Regulatory Tariff Rules

Uche Cecil Izuora

Eko Power Limited has said that its tariff structure is based on structure under new regulatory framework.

According to the utility firm, its tariffs and service-level commitments were approved under the Lagos State electricity regulatory framework and operates under cost-reflective electricity tariffs as approved by the Lagos State Electricity Regulatory Commission (LASERC).

This follows the transfer of regulatory oversight of the state’s retail electricity market from the Nigerian Electricity Regulatory Commission.

“This is reflected in Eko Power Limited’s own LASERC-approved cost-reflective tariffs and its published service-level commitments across all customer bands and feeders in Lagos State,” it said.

Eko Power said its establishment followed changes to Nigeria’s electricity regulatory framework, which devolved regulatory powers over intrastate electricity generation, transmission and distribution to state governments.

It explained that the transition followed the Electricity Act 2023, as amended, and the 2023 constitutional amendment, which empowered state governments to regulate electricity markets within their jurisdictions.

According to the company, the Lagos State Government subsequently enacted the Lagos State Electricity Law 2024 and established LASERC to regulate the state’s electricity market.

Eko Power said the Nigerian Electricity Regulatory Commission, pursuant to Section 230 of the Electricity Act, issued an order in December 2024 to commence the transfer of regulatory oversight of Lagos State’s retail electricity distribution market to LASERC.

The transition was completed in June 2025, when LASERC assumed regulatory responsibility for retail electricity distribution and end-user tariffs in the state, the company added.

Explaining its regulatory status, Eko Power said it operates under a distribution licence issued directly by LASERC and is subject to the commission’s tariff methodology and service-level standards.

The company maintained that its operations and customer service obligations are governed by Lagos State’s electricity regulatory framework.

“Eko Power Limited exists today because Lagos State exercised its constitutional right to regulate retail electricity distribution within the state,” the company said.

“We are licensed by LASERC for distribution and tariffs, and our service commitments to customers are set independently under Lagos State law.”

Eko Power added that it continues to publish information on tariffs and service-level performance in line with LASERC’s transparency requirements.

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