By Jemimah Wellington, JKNMedia Reporter
A RECENT directive by the Nigerian Electricity Regulatory Commission (NERC) has set in motion the establishment of the Nigerian Independent System Operator of Nigeria Limited (NISO) within the next 30 days, leading to the division of the Transmission Company of Nigeria (TCN).
Outlined in the order marked NERC/2024/45, dated April 30th and signed by NERC Chairman/CEO Sanusi Garba and Vice Chairman, Musiu Oseni, TCN is tasked with identifying and mapping its assets and liabilities related to system and market operation within the stipulated timeframe, forwarding the details to both NERC, the Bureau of Public Enterprises (BPE) by June 30, 2024.
Following this, the BPE, through the National Council on Privatisation, is mandated to oversee the transfer of all market and system operation assets and liabilities from TCN to NISO.
NISO will assume direct responsibility for managing the network, particularly the national grid and associated market contracts, headquartered in Osogbo.
This move effectively revokes one of TCN’s operating licenses, separating its roles as a Transmission Service Provider and an Independent System Operator, as per the Electricity Act (EA) 2023.
As per NERC’s directive, BPE is to establish a private company limited by shares by May 31, 2024, under the Companies and Allied Matters Act, tasked with fulfilling market and system operation functions as outlined in the EA and TCN’s system operation license terms and conditions.
The formation of the NISO is also to align with the broader aim of streamlining and enhancing the efficiency of Nigeria’s electricity transmission and distribution networks, in line with regulatory guidelines and legislative frameworks.
At JKNewsMedia, our dedication to delivering reliable news and insightful information to our cherished readers remains unwavering. Every day, we strive to provide you with top-notch content that informs and enlightens. By donating to JKNewsMedia, you directly contribute to our mission of delivering quality journalism that empowers and informs. Your support fuels our commitment to bringing you the latest updates and in-depth analysis. Let's continue to uphold the highest standards of journalism and serve our community with integrity and dedication. Thank you for being a part of the JKNewsMedia family and for your ongoing support.
