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.
”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.
”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 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)
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