(1) The Commission may on an application by a public utility in such form as the Commission shall determine grant the public utility a wholesale supply licence to operate facilities and installations for the wholesale supply of electricity or natural gas.

(2) A public utility licensed under subsection (1) shall be authorised by the licence to produce electricity or natural gas for supply to-

(a) distribution companies; and

(b) bulk customers.

(3) A wholesale supply licence shall not be granted under this section unless the Commission is satisfied that the grant will promote the safe, reliable and economic operation of the interconnected transmission systems in the country.

(4) A wholesale supply licence may be granted subject to such other conditions as shall be specified in relation to it and shall include-

(a) the location of the wholesale supply facilities or stations;

(b) the duration of the licence; and

(c) a condition that charges for its services to distribution companies shall be subject to the approval of the Public Utilities Regulatory Commission.