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Okechukwu Nnodim, Abuja
Published 4:21 am
Power generation companies received N81.14bn as payment assurance from the Nigeria Electricity Bulk Trading Plc in 2020, the Nigerian Electricity Regulatory Commission has said.
NERC disclosed this in its latest Key Operational and Financial Data of the Nigerian Electricity Supply Industry: 2019-2020 obtained in Abuja.
NBET disburses payment assurance to power generators to enable the Gencos to meet their financial obligations to gas and equipment suppliers, banks and other partners.
NBET buys bulk power from Gencos and sells same to electricity distributors, who in turn distribute the commodity to end users at a bill approved by NERC.