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NERC renews NBET’s licence for three years

Posted by on November 24, 2021 0


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The Nigerian Bulk Electricity Trading company on Tuesday announced that its operating license had been renewed for additional three years by the Nigerian Electricity Regulatory Commission.

It said in a statement issued by the firm in Abuja that the license was renewed following a review of NBET’s application and corporate business plan.

The electricity bulk trader was set up as a credit worthy off-taker of bulk electricity distributed through the national power grid to consumers.

The agency’s initial license was for a 10-year period which ended this November.

The firm said in the statement that NBET was established to undertake the business of managing and trading in wholesale electricity.

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It explained that the agency functioned as a bulk purchaser and bulk reseller of power and ancillary services pursuant to the Electric Power Sector Reform Act 2005.

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