{"id":437,"date":"2024-09-13T12:33:56","date_gmt":"2024-09-13T11:33:56","guid":{"rendered":"https:\/\/youdonhear.org\/?p=437"},"modified":"2024-09-13T12:33:58","modified_gmt":"2024-09-13T11:33:58","slug":"nbet-seeks-license-renewal-amid-nerc-ban-on-new-electricity-contracts","status":"publish","type":"post","link":"https:\/\/youdonhear.org\/?p=437","title":{"rendered":"NBET Seeks License Renewal Amid NERC Ban on New Electricity Contracts"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Nigerian Bulk Electricity Trading Plc (NBET) has initiated efforts to renew its license with the Nigerian Electricity Regulatory Commission (NERC) to maintain its role as the country&#8217;s bulk electricity trader. This move follows NERC&#8217;s recent directive barring NBET from entering into new electricity contracts.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In July, NERC instructed NBET to halt new agreements for purchasing and reselling electricity and ancillary services within the Nigerian Electricity Supply Industry (NESI).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">NBET, established on July 29, 2010, and wholly owned by the federal government, serves as the primary purchaser of electricity from generating companies under Power Purchase Agreements (PPAs).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">After its initial 10-year license expired in November 2021, NERC granted a three-year extension, set to end in November. During a public hearing in Abuja, NBET&#8217;s Acting Managing Director, Johnson Akinnawo, outlined plans for a five-year license renewal, which will see the company evolve into an energy exchange. This new model aims to foster direct trading between generating companies, Independent Power Producers (IPPs), and commercial\/industrial customers through an automated trading platform and multiple energy brokers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nigerian Bulk Electricity Trading Plc (NBET) has initiated efforts to renew its license with the Nigerian Electricity Regulatory Commission (NERC) to maintain its role as the country&rsquo;s bulk electricity trader. This move follows NERC&rsquo;s recent directive barring NBET from entering into new electricity contracts. In July, NERC instructed NBET to halt new agreements for [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,11],"tags":[],"class_list":["post-437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-big-story","category-business"],"jetpack_featured_media_url":"https:\/\/youdonhear.org\/wp-content\/uploads\/2024\/09\/images-2024-09-13T123221.689.jpeg","jetpack_sharing_enabled":true,"brizy_media":[],"_links":{"self":[{"href":"https:\/\/youdonhear.org\/index.php?rest_route=\/wp\/v2\/posts\/437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/youdonhear.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/youdonhear.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/youdonhear.org\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/youdonhear.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=437"}],"version-history":[{"count":1,"href":"https:\/\/youdonhear.org\/index.php?rest_route=\/wp\/v2\/posts\/437\/revisions"}],"predecessor-version":[{"id":439,"href":"https:\/\/youdonhear.org\/index.php?rest_route=\/wp\/v2\/posts\/437\/revisions\/439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/youdonhear.org\/index.php?rest_route=\/wp\/v2\/media\/438"}],"wp:attachment":[{"href":"https:\/\/youdonhear.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/youdonhear.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/youdonhear.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}