The Nigerian Electricity Regulatory Commission (NERC), has unbundled the Transmission Company of Nigeria (TCN) with the establishment of the Nigerian Independent System Operator of Nigeria Limited (NISO). The company disclosed this in an order signed by its Chairman, Mr Sanusi Garba and Mr Muslim Oseni, Vice Chairman in Abuja on Saturday.
According to the order, TCN will transfer all market and system operation functions to the newly formed NISO.
The company said that this is in line with the provisions of the Electricity Act 2023, which provides clearer guidelines for the incorporation and licensing of the independent system operator (ISO).
It said that previously, TCN held Transmission Service Provider (TSP) and System Operations (SO) licences issued by NERC.
”With the establishment of NISO, TCN will now transfer its assets and liabilities related to market and system operations to the new entity.
According to the order, the Bureau of Public Enterprises (BPE) has been directed to incorporate a private company limited by shares under the Companies and Allied Matters Act (CAMA) by May 31.
