NERC unbundles TCN, establishes new system operator
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, Sanusi Garba and 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.
”This new company, to be named the Nigerian Independent System Operator of Nigeria Limited (NISO), will assume the market and system operation functions as specified in the Electricity Act and the terms of TCN’s system operation licence,” it said.
The company outlined NISO’s responsibilities to include managing assets and liabilities related to the market and system operations on behalf of market participants and consumer groups.
”The new ISO will also negotiate contracts for ancillary services with independent power producers and generation licensees.
”In addition to performing market and system operation functions for the benefit of market participants and system users,” it said.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Bayelsa: Father, son arrested for illegally possessing guns
The Bayelsa police command says it has arrested a 68-year-old man and his 36-year-old son for illegally possessing four single-barrelled firearms.
Africa
Tunisia proposes ban on single-use plastic bags
Members of the Assembly of People’s Representatives in Tunisia have put forward a legislative initiative aimed at a nationwide ban on single-use plastic bags.
Politics
1,300 NSCDC officers to provide security for Edo LG elections
The Nigeria Security and Civil Defence Corps has deployed 1,300 operatives across Edo’s three senatorial districts to provide security for Saturday’s local government elections.
World
BRICS countries create network of telescopes to study short-duration space phenomena
According to TV BRICS, the network is the Global Open Transient Telescope Array, an international observatory of telescopes for observing transient phenomena.
NationWide
Fake solar panels in Nigeria could cause fire outbreaks, experts warn
The experts gave the warning in separate interviews on Wednesday, urging consumers to buy only genuine products from authorised dealers.
World
U.S. professor Daniel Taylor convicted of drug trafficking, faces 40 years’ imprisonment
Mr Taylor worked as an associate professor of marketing and supply chain management at Texas Tech University’s Rawls College of Business.
