BPE Proposes 5-yr Mgt Contract for Transmission Coy
- By Simeon Ogoegbulem
- Published October 26th, 2010
- News
- Unrated
THE Bureau of Public Enterprises (BPE), the agency saddled with the task of offloading State-owned enterprises (SOEs) has hinted that a five year management contract is being proposed for the Transmission Company of Nigeria (TCN). TCN is one of the successor companies created out of the Power Holding Company of Nigeria (PHCN).
Ms. Bolanle Onagoruwa, the Director General of BPE explained that the management contractor will oversee the entire TCN operations including market and system operations. Onagoruwa said that management contract will also bring required expertise to transform TCN into a world class company.
Competent sources at the privatisation agency said the management contract option for TCN was designed to among other things reduce electricity losses during transmission, provide for the achievement of certain predetermined targets that would improve grid security and general performance as well as have reward and penalty clauses as incentives for success.
Ms. Bolanle Onagoruwa, the Director General of BPE explained that the management contractor will oversee the entire TCN operations including market and system operations. Onagoruwa said that management contract will also bring required expertise to transform TCN into a world class company.
Competent sources at the privatisation agency said the management contract option for TCN was designed to among other things reduce electricity losses during transmission, provide for the achievement of certain predetermined targets that would improve grid security and general performance as well as have reward and penalty clauses as incentives for success.
