The Nigerian Electricity Regulatory Commission has unbundled the Transmission Company of Nigeria by establishing the Nigerian Independent System Operator of Nigeria Limited .TCN is expected to transfer all market and system operation functions to the new company.
Therefore, in the circular, the commission ordered the Bureau of Public Enterprises to incorporate, unfailingly on May 31, a private company limited by shares under the Companies and Allied Matters Act . Citing the object clause of the NISO’s memorandum of association as provided in the Electricity Act, NERC said the company shall “hold and manage all assets and liabilities pertaining to market and system operation on behalf of market participants and consumer groups or such stakeholders as the Commission may specify”.
Source: News Formal (newsformal.com)
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