In the first part, we highlighted our concerns and opinion with some of the proposed amendments in the EPSRA amendment bill. This second part is focused on Part IX of the bill, which in our opinion is the most controversial section of the amendment bill. Part IX of the EPSRA (thePrincipal Act) deals with rural electrification. The Principal Act sets up the Rural Electrification Agency (REA), an agency of the Federal Government which in summary, is tasked with implementation and execution of rural electrification plans of the Federal Government. Part IX establishes the Rural Electrification Fund. The amendment bill expands…
Author: Odion Omonfoman
The Electric Power Sector Reform Act (EPSRA) was passed by the National Assembly and signed into law by President Olusegun Obasanjo, GCFR in 2005. The EPSRA is the extant law underpinning the regulations and operations of the Nigeria Electricity Supply Industry (NESI) as we know it today. At the time it was passed into law, it was heralded as a defining piece of legislation that would transform the power sector and lead to a competitive electricity market. Fifteen years after thepassage of the EPSRA, there have been numerous attempts at amending the Act to align it with present day realities…
The Nigerian Bulk Electricity Trading Plc (NBET) is one of the licensees of the Nigerian Electricity Regulatory Commission (NERC). NBET was founded in July 2011 and was issued its operational trading license in November 2011. The term of the licence is for ten (10) years and would expire by November, unless renewed by the NERC. In accordance with its licensing procedure, the NERC has commenced the stakeholder engagement on the application for the renewal of of NBET’s licence. NBET’s Objective in a Transitional Electricity Market NBET is 100 per cent owned by the Federal Government. From the company’s website, NBET…
