Monday, 29 April 2013

NERC Extends Tenure for Electricity Licences to 25 Years

The Nigerian Electricity Regulatory Commission (NERC) has revealed its intention to extend by additional 15 years, operational licences granted to companies that operate in the Nigeria’s Electricity Supply Industry (NESI).
NERC said that the new provision had become necessary as it sought to mitigate the various operational risks associated with licences with short lifespan such as what it had granted to existing operators in the country’s power sector.
To this end, the commission explained that it would now guarantee a 25-year maximum tenure for licences it issues to companies engaged in electricity businesses in the country, after which further renewal of the licences could be granted upon due consideration.

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