NBET is an acronym for Nigerian Bulk Electricity Trading Plc., the “Bulk Trader”.
NBET purchases electricity from the Generation Companies through Power Purchase Agreements (PPAs) and using Vesting Contracts (VC) resells to Distribution Companies and other large general service customers who take electricity from the transmission system. The Generation Companies include the 6 that were created out of the assets of the former government owned and vertically integrated monopoly utility – the Power Holding Company of Nigeria (PHCN); the 10 companies that make up the National Integrated Power Project (NIPP) under the holding company – the Niger Delta Power Holding Company (NDPHC), existing Independent Power Producers (IPPs) such as Ibom Power, Okpai, FIPL, & Shell etc. and new IPPs.
We also maintain regional customer relationships through two interconnectors, one in the North western part and another in the South Western part of the country.
NBET is a Federal Government of Nigeria owned public liability company with two institutional shareholders: The Bureau of Public Enterprise (BPE) that owns 80% of the shares and; the Ministry of Finance incorporated (MOFI) that owns 20% of the shares.
To create a financially viable electricity market.
“To be an efficient & effective catalyst for investment into the Nigeria electricity market by ensuring transparency & guaranteeing payment”
Professionalism, Integrity, Transparency, Teamwork, and Sustainability.
The SO plans the management of the integrated grid and two interconnectors: one in the North and another in the South Western part of the network. On a day-ahead, the SO uses an optimisation algorithm to simulate a non-constraint model it will follow to dispatch plants across the network. And on each electricity day, it maintains the safety and security of the network by constraing “ON” or “OFF” generation whilst it uses a combination of transportation support (e.g. reserves, voltage & frequency responses, and energy) to keep the network within its acceptable tolerances.
NBET processes the financial settlement that originates from the physical flow of electricity that the SO controls on the network.
NBET procures new generation capacities by two routes:
A new entrant can sign a PPA with NBET when they have met all four mandatory due diligence requirements and concluded negotiations on the terms in the PPA. NBET purchases a minimum of 30MW.
The PPA term is usually 20 Years.
It is a series of carefully thought out policy actions, operational and financial interventions to be implemented by the Federal Government of Nigeria to attain financial viability of the power sector, and reset the Nigerian Electricity Supply Industry (“NESI”).
NBET is constantly seeking professionals to join its talented team who are driven by excellence to deliver positive solutions to the Nigerian Power sector. Available vacancies are advertised on its website and print media.
Copyright © 2018 Nigerian Bulk Electricity Trading Plc. All right reserved