The Nigerian Electricity Regulatory Commission (NERC) has restructured the Transmission Company of Nigeria (TCN) by establishing the Nigerian Independent System Operator of Nigeria Limited (NISO).
This development was announced in an order signed by the Chairman of the commission, Mr. Sanusi Garba, and Vice Chairman, Mr. Muslim Oseni, in Abuja on Saturday.
This action comes nearly four years after the company initiated consultations with stakeholders regarding the unbundling of the Transmission Company of Nigeria into two entities.
According to the announcement, all market and system operation responsibilities will now be transferred from TCN to the newly formed NISO.
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The establishment of NISO aligns with the provisions outlined in the Electricity Act 2023, which provides clearer guidelines for incorporating and licensing an independent system operator.
TCN had previously held licenses issued by NERC for both Transmission Service Provider and System Operations.
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.
NISO’s responsibilities include managing assets and liabilities related to the market and system operation on behalf of market participants and consumer groups.
The new company will assume market and system operation functions as specified in the Electricity Act and the terms of TCN’s system operation license.
The NISO 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.
Following the privatization of the power sector in 2013, private investors took over the generation and distribution companies, while TCN remained under the ownership and management of the Federal Government.
TCN has operated under strategic departments, including the Transmission Service Provider and the System Operator, since then.
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