Mr Tinubu charged the board members to deepen and consolidate ongoing reforms in the power sector.
The commission said the respective fines “represent 10 per cent of the overbilled amount.”
NBET was licensed as a bulk trader by the commission on August 23, 2011.
NERC said the deployment of funds under the MAF scheme would accelerate the deployment of meters and a closure of the current metering gap.
“No university in Nigeria teaches regulatory economics. What we do in the sector is regulatory economics,” said NERC official Dafe Akpeneye.
