NBET licence renewed for another three years
The Nigerian Electricity Regulatory Commission (NERC), yesterday, renewed licence of Nigerian Bulk Electricity Trading Company (NBET) for another three years.
Created in 2010 as an intervention agency, NBET is managing and handling administration of electricity pool in the nation’s power supply industry.
The renewal confirmed The Guardian’s report last week that NERC would renew the licence to crystallise more interventions in the sector overdue for enduring evaluation.
The prediction was precipitated on a review of an application and corporate business plan submitted by the agency.
Set up as a credit worthy off-taker of bulk electricity distributed via grid to consumers, NBET’s initial licence was for 10 years, which elapses this month end.
A source, who pleaded anonymity, said the licence renewal was renewed to enable the agency play its critical role in the sector.