The Nigerian Electricity Regulatory Commission (NERC) has finalized the unbundling process of the Transmission Company of Nigeria (TCN), introducing the Nigerian Independent System Operator of Nigeria Limited (NISO).
The business made this announcement in an order on Saturday in Abuja, which was signed by vice chairman Muslim Oseni and chairman Sanusi Garba.
TCN will hand over all market and system operation responsibilities to the newly established NISO in accordance with the order.
According to the company, this complies with the Electricity Act 2023’s provisions, which offer more precise guidelines for the ISO’s incorporation and licensing.
It stated that TCN had previously possessed NERC-issued Transmission Service Provider, TSP, and System Operations, SO licenses.
”With the establishment of NISO, TCN will now transfer its assets and liabilities related to market and system operations to the new entity.
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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 business described NISO’s duties, which include system operation on behalf of market participants and consumer groups and managing market-related assets and liabilities.
”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.
