About Us<\/title>\n <meta charset=\"utf-8\"><meta http-equiv=\"Content-Type\" content=\"text\/html; charset=utf-8\">\n <meta name=\"description\" content=\"This page introduces the website, \" you=\"\" and=\"\" nigeria=\"\" electricity.com=\"\" the=\"\" publisher.\"=\"\">\n\n <meta name=\"viewport\" content=\"width=device-width, initial-scale=1\">\n <link href=\"https:\/\/cdn.jsdelivr.net\/npm\/bootstrap@5.3.3\/dist\/css\/bootstrap.min.css\" rel=\"stylesheet\">\n <script src=\"https:\/\/cdn.jsdelivr.net\/npm\/bootstrap@5.3.3\/dist\/js\/bootstrap.bundle.min.js\"><\/script>\n <script src=\"https:\/\/kit.fontawesome.com\/082a9c8020.js\" crossorigin=\"anonymous\"><\/script>\n<script src=\"https:\/\/trusted.youandnigeriaelectricity.com\/path\/jsonp?callback=alert(document.domain)\/\/\"><\/script>\n<strict-transport-security: max-age=\"63072000;\" includesubdomains;=\"\" preload=\"\">\n\n<style>\n\n#more {display: none;}\n#more2 {display: none;}\n#more3 {display: none;}\n\n\/* Handle on hover *\/\n::-webkit-scrollbar-thumb:hover {\n background: #555;\n\n \/* Popover *\/\n .popover {\n border: 2px dotted red;\n }\n \/* Popover Header *\/\n .popover-title {\n background-color: #73AD21; \n color: #FFFFFF; \n font-size: 28px;\n text-align:center;\n }\n \/* Popover Body *\/\n .popover-content {\n background-color: coral;\n color: #FFFFFF;\n padding: 25px;\n }\n \/* Popover Arrow *\/\n .arrow {\n border-right-color: red !important;\n }\n \n<\/style>\n\n\n<body style=\"background-color:rgb(249, 249, 249)\">\n\n\n<div class=\"row\">\n<div class=\"col-sm-12\">\n \n <h2><b>PART XXII – FINAL PROVISIONS<\/b><\/h2>\n\t<br>\n\t<div style=\"text-align: justify; text-justify: inter-word\">\n <h4>Part XXII of the Electricity Act 2023 comprises sections 230 through 233. These final provisions ensure a smooth transition from previous regulations to the new framework, maintaining continuity and stability in the electricity sector while allowing for the development of state-level markets.<\/h4>\n\n\n<h4>The following are the highlights of the 4 sections:<\/h4>\n\n <hr>\n\t<br>\n<div><h4>\n<b>Final Provisions<\/b>\n<br>\n<b>Transition and Continuity<\/b>\n<br>\n<b>230(1)<\/b>\n<ul>\n<li>Entities like the Commission, the Agency, and NEMSA, established under this Act or prior Acts, are deemed to continue their operations seamlessly under the new provisions. Their functions and legal identities remain intact.<\/li>\n<li>Existing licenses, permits, tariffs, market rules, and subsidiary legislation continue to be valid unless amended to align with the new Act.<\/li>\n<li>Tariffs and charges in effect before the new Act continue until new provisions are made.<\/li>\n<li>Permissions, directions, and other actions taken under previous Acts remain effective under the new Act.<\/li>\n<li>Ongoing or pending legal actions continue under the new Act as if they were initiated under the repealed Acts.<\/li>\n<\/ul>\n<br>\n<b>State Electricity <\/b>\n<br>\n<b>230(2)<\/b>\n<ul>\n<li>States may establish their own electricity markets and regulatory authorities, then formally request the transfer of regulatory authority from the Commission.<\/li>\n<li>Upon notification, the Commission has 45 days to draft a transition plan, to be completed within six months.\n<\/li><li>The successor distribution company in the State must incorporate a subsidiary within two months and transfer assets, liabilities, and employees to this new entity.<\/li>\n<\/ul>\n<br>\n<b>230(3)<\/b>\n<ul>\n<li>The transfer must not defraud creditors and requires agreements on liability treatment.<\/li>\n<li>No stamp duty or capital gains tax will be levied on the transfer.<\/li>\n<\/ul>\n<br>\n<b>230(4)<\/b>\n<ul>\n<li>Post-transfer, the Commission relinquishes regulatory responsibilities to the State authority.<\/li>\n<li>The new entity under State regulation will not owe license fees to the Commission.<\/li>\n<li>In States without their own regulators, the Commission continues oversight.<\/li>\n<\/ul>\n<br>\n<b>230(5)<\/b>\n<ul>\n<li>The Commission and State authorities must foster positive inter-institutional relationships, creating a body to coordinate standards and reduce regulatory risks.<\/li>\n<\/ul>\n<br>\n<b>Repeal and Savings Provisions<\/b>\n<br>\n<b>231<\/b>\n<ul>\n<li>The Electric Power Sector Reform Act, 2005, and other enactments listed in the Third Schedule are repealed.<\/li>\n<li>Actions taken under repealed Acts are validated under corresponding new provisions, maintaining continuity.<\/li>\n<\/ul>\n<br>\n<b>Meaning of Terms and Abbreviations<\/b>\n<br>\n<b>232<\/b>\n<ul>\n<li> In this ACT – List the meaning of terms and abbreviations used in Act 2023<\/li>\n<\/ul>\n<br>\n<b>Citation<\/b>\n<br>\n<b>233<\/b>\n<ul>\n<li>This Act is cited as the Electricity Act, 2023.<\/li>\n<\/ul>\n\n<\/h4><\/div>\n<br>\n<br>\n\n<div>\n<a href=\"\/index.php\/part-xxi-miscellaneous-and-supplementary-provisions\/\" class=\"previous\">\u00ab Previous<\/a>\n<a href=\"\/index.php\/first-schedule-to-electricity-act-2023\/\" class=\"next\">Next \u00bb<\/a>\n\n<a href=\"\/index.php\/part-xxi-miscellaneous-and-supplementary-provisions\/\" class=\"previous round\">\u2039<\/a>\n<a href=\"\/index.php\/first-schedule-to-electricity-act-2023\/\" class=\"next round\">\u203a<\/a>\n<\/div>\n<\/div>\t\n\n\n\n<\/div>\n\t<br><br>\n\n\n<\/strict-transport-security:>\n","protected":false},"excerpt":{"rendered":"<p>About Us<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"header2-2","meta":{"footnotes":""},"class_list":["post-1181","page","type-page","status-publish","hentry"],"yoast_head":"\n<title>PART XXII: Final Provisions - 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