The Nigerian Electricity Regulatory Commission, NERC, has ordered the Bureau of Public Enterprises, BPE, to within 30 days register the Independent System Operator as a distinct entity from the Transmission Company of Nigeria, with the Corporate Affairs Commission.
The Nigerian Independent System Operator Limited will be responsible for managing the national grid and other system operations related market contracts and transactions.
But NERC in the order signed by its Chairman, Engr. Sanusi Garba and Vice Chairman, Musiliu Oseni, ordered the Transmission Company of Nigeria, TCN, to transfer all system and market operations related assets, contracts and staff to the new entity. The Commission’s action is seen as a reaction to the frequent national grid collapses that have seen four nationwide blackouts this year.
“The name of the company shall, subject to availability at Corporate Affairs Commission, be the Nigerian Independent System Operator of Nigeria Limited . ii. The object clause of the Memorandum of Association of the NISO as provided in section 1 6 of EA shall be as follows a. to 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; b.
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