PicNews
The Lagos State Electricity Regulatory Commission (LASERC) has granted electricity distribution licenses to Excel Distribution Company Limited and IE Energy Lagos Limited, marking a significant shift in the state’s electricity distribution landscape. These new companies have taken over electricity distribution operations from Eko Electricity Distribution Plc and Ikeja Electric Plc, respectively.
As a result, Eko Electricity Distribution Plc and Ikeja Electric Plc have ceased to exist as distribution licensees within the Lagos Electricity Market. Excel Electricity Distribution Limited and IE Energy Lagos Limited are now the legally recognized electricity distribution entities in the state.
The licence presentation ceremony, held at the Radisson Blu Hotel in Ikeja, was attended by key stakeholders, including representatives of the new licensees and LASERC commissioners. The LASERC Chairman, Engr. Abimbola Odubiyi, described the occasion as “a defining moment in Lagos’ journey towards a reliable and sustainable electricity market”.
The new licensees have expressed optimism about their future roles, with Mr. Kola Adeshina of IE Energy stating that his company will focus on deploying innovative solutions to deliver value to customers across Lagos. Similarly, Sheri Adegbenro of Excel Distribution Company called the licence “both a privilege and a responsibility” and pledged to work closely with LASERC to enhance power distribution and improve customer service.
The development is expected to usher in a new era in the implementation of the Lagos State Electricity Policy, aimed at fostering a competitive and sustainable energy market within the state. The LASERC CEO, Dr. Fouad Animashaun, highlighted that the issuance of these licences underscores the commission’s commitment to enabling private sector participation and expanding competition to ensure better access, improved reliability, and affordable electricity supply for Lagosians.
