This is contained in a statement, signed by Dr Godknows Igali, the Permanent Secretary in the ministry, in Abuja.
It said that the panel would be headed by Mr Fatai Olapade, a retired director in the ministry with Jonathan Ogbonna, John Achefe and Imo Ekpo as members.
Other members are a representative of the Nigeria Electricity Regulatory Commission, a representative of the Electrical Inspectorate Services Department and a representative of the Department of Power.
Also included in the panel are Mr Olukunle Olubiyi, President, Network for Energy Reform, a representative of power generation companies and representative of power distribution companies.
According to the statement, the action is necessitated by the recent unpleasant trend of system collapse in the country.
The statement noted that electricity supply to Sokoto and environs, disrupted due to a windstorm, had been restored.