The ninth Regional Electricity Regulatory Forum of the ECOWAS Regional Electricity Regulatory Authority (ERERA) took place from July 19-20, 2024 in Accra, Ghana, with the theme, “Electricity Trade Security in the ECOWAS Region: the Interplay between National Policies and Free Market Principles”.
The Minister of Energy of Ghana, Herbert Krapa, contexted his keynote address on “Geopolitical Dynamics and Energy Security: Implications for the West African Region,” as he discusses the importance of electricity trade security in the ECOWAS region.
The Forum featured presentations on free market principles in facilitating electricity trade, focusing on the relevance, benefits, and risks of implementing free market principles in West Africa, and the regulatory frameworks supporting free market principles.
This feature also covered issues relating to ensuring the security of electricity supply in a liberalized electricity market, such as cross-border power trade and its impact on national security, as well as the role of regional cooperation in enhancing electricity supply security.
Meanwhile, presentations focused on the status of regional initiatives for developing electricity trade in ECOWAS, balancing national energy security with regional trade benefits, and technological Innovations and infrastructure development for enhanced energy security, among others.
The ninth edition of the Forum was expected to strengthen the role of key players, including national policymakers, market players, and ECOWAS institutions, in developing a regional framework for electricity trade that balances the need for the security of electricity supply of States with the principles of free market competition.
It is also to encourage cooperation among ECOWAS Member States to harmonize national policies and regulations related to electricity trading, as well as promote investment in cross-border electricity infrastructure to facilitate efficient trade and ensure supply security.
In addition, participants deepened discussions on establishing mechanisms for the security of payments, dispute resolution, and enforcement of agreements related to electricity trade within the region.
