The Federal Government on Tuesday announced plans to restructure the Transmission Company of Nigeria, TCN, in line with the Electricity Act 2023 and industry demands.
The Minister of Power, Mr Adebayo Adelabu stated this in Abuja at the Ministerial Retreat on the Integrated National Electricity Policy and Strategic Implementation Plan.
The retreat has the theme, ‘Navigating and Aligning on the Path to Enhanced Electricity Reliability’’.
Adelabu said, ‘’It is time to restructure the TCN into two entities: the Independent System Operator (ISO) and the Transmission Service Provider (TSP).
“This restructuring must synchronize with the evolving landscape of state electricity markets, addressing calls for decentralizing the national grid into regional grids interconnected by a new higher voltage national or super-grid.
“Essentially, we must ask whether the government should directly provide electricity nationwide or facilitate its provision by drawing comparisons with China’s centralized model and the US’s diverse access models.
“Understanding how to handle subsidies, cross-subsidies, and aligning the Rural Electrification Agency’s role with emerging state markets are vital questions that demand stakeholder scrutiny for effective resolution.”
The minister said that for the country’s GDP to reach one trillion dollars by 2030, as envisaged by President Bola Tinubu, huge energy investments must be made.
Adelabu stated that the Federal Government must collaborate with state and local governments to expand electricity coverage and distribution across the country.
