Transmission Company of Nigeria (TCN) was incorporated in November 2005. TCN emerged from the defunct National Electric Power Authority (NEPA) as a product of the merger of the Transmission and Operations sectors on April 1, 2004. Being one of the 18 unbundled Business Units under the Power Holding Company of Nigeria (PHCN), the company was issued a transmission License on 1st July, 2006. TCN licensed activities include: electricity transmission, system operation and electricity trading which is ring fenced.