NERC unbundles TCN, establishes new system operator - Realnews Magazine

NERC unbundles TCN, establishes new system operator

Sat, May 4, 2024
By editor
2 MIN READ

Power

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.

”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 market, and system operation 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)

F.A

May 4, 2024

Tags:


NERC transfers electricity oversight to Niger 

THE Nigerian Electricity Regulatory Commission (NERC) has issued an order to transfer regulatory oversight of the electricity market in Niger  to...

Read More
FG pledges to pay compensation to communities displaced by Zungeru power project

THE Federal Government, on Thursday pledged to pay full compensation to communities displaced by the construction of the 700 megawatts,...

Read More
Adelabu says FIRS chairman is beacon of hope for nation’s economic growth

 MINISTER of Power, Chief Adebayo Adelabu has extended  his warmest congratulations to Dr. Zacchaeus Adedeji, the Executive Chairman of the...

Read More