The Nigerian Electricity Regulatory Commission has renewed for three years the trading license of Nigerian Bulk Electricity Trading Plc (NBET)
The regulator explained that its action was sequel to a review of the latter’s application and corporate business plan.
NERC started the process of renewing the the resale license of the Nigerian Bulk Electricity Trading Plc recently.
The agency’s chairman,Sanusi Garba,in a signed document, invited stakeholders in the Nigerian Electricity Supply Industry (“NESI”) and interested members of the public to a renewal of the bulk electricity purchase and resale licence filed by the Nigerian Bulk Electricity Trading Plc (“NBET”) or the “Trading Licensee”) on 12 February 2021.
He explained that the engagement is being convened pursuant to sections 45 and 47 of the Electric Power Sector Reform Act (“EPSRA” or the Act) and section 7 of the NERC Business Rules of the Commission Regulations 2006 (the Business Rules”).
He recalled that the NERC issued a bulk electricity purchase and resale licence (the “Licence”), for the maximum statutory tenure of 10 years, to NBET on 15th November, 2011 following due consideration of sections 25(a) and 68(1)(2) of EPSRA.
