Home Energy FG renews NBET’s licence for 3 years

FG renews NBET’s licence for 3 years

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The Nigerian Electricity Regulatory Commission, NERC, has renewed the operating licence of the Nigerian Bulk Electricity Trading Company, NBET, for another three years.

The regulatory commission conveyed the renewal contract in a letter to the bulk electricity trader on Tuesday.

NBET which was set up by the government as a creditworthy off-taker of bulk electricity distributed via the grid to consumers was initially granted a 10-year licence which expires this month.

This renewal came after an extensive review of its application and corporate business plan and debate over NBET’s relevance in the industry.

NBET was set up to carry out the responsibility of managing the business, trading in wholesale electricity as a bulk purchaser and bulk reseller of electricity and ancillary services pursuant to the Electric Power Sector Reform Act 2005.

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