Eko Electricity Distribution Company Plc (Eko DisCo) has registered Excel Electricity Distribution Limited as a wholly owned subsidiary to oversee its electricity distribution business within Lagos State.
According to the company, the move aligns with the requirements of the Electricity Act 2023, which transferred regulatory oversight of the electricity market to State Governments.
In a statement issued on Monday, Eko DisCo said the Lagos State Electricity Regulatory Commission (LASERC) had directed the company to register a separate entity for its Lagos operations, in compliance with state electricity market regulations.
The company clarified that the new entity, Excel Electricity Distribution Limited, would operate under Eko DisCo’s oversight while remaining subject to regulation by LASERC and the Nigerian Electricity Regulatory Commission (NERC).
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Eko DisCo emphasised that the restructuring does not amount to a sale or takeover, noting that it remains a legally recognised and operational entity under Nigerian law.
“Eko Electricity Distribution Company Plc has not been sold or taken over. There has been no sale, transfer of ownership, or dissolution of the company,” the statement read.
The company further explained that Eko DisCo remains owned by West Power and Gas Limited (WPG), which retains a 60% stake, while the Bureau of Public Enterprises (BPE) holds the remaining 40% on behalf of the Federal Government of Nigeria.
Eko DisCo noted that the new subsidiary, Excel Electricity Distribution Limited, will continue electricity distribution activities previously handled by Eko DisCo, with no operational disruption to customers.
“All customers of Excel Disco will continue to be served by the same personnel who served them in EKODISCO and should pay their bills in the same way. They will not notice any change as we transition the name from EKODISCO to Excel Disco,” the company said.
The statement also confirmed that Eko DisCo had transmuted into a holding company as part of the transition, describing the change as a regulatory compliance measure that would not affect its operations in Lagos.
Eko DisCo reiterated its commitment to providing reliable, efficient, and sustainable power supply to customers, stressing that the development is a regulatory and structural transition, not a takeover or divestment.
