The Economic Community of West African States on Friday inaugurated its Regional Electricity Market to address power challenges and fast track efficient cross-border electricity trade among member states.
The official launch was preceded by series of meetings by experts and Ministers of Energy from ECOWAS Member States to review and adopt a document for the take off of the regional electricity market.
The Regional Electricity Market is being coordinated, managed and regulated by the ECOWAS Regional Electricity Regulatory Authority and the West African Power Pool.
The Regional Electricity Market is planned in three phases, with the first phase being transitional for two years, while the second phase kick starts by 2020 with a competitive market.
The third phase is a long term vision dependent on the availability of adequate regional transmission capacity and enough generation reserve in member States.
Source:Â The Eagle
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