A major milestone was achieved at the 9th ECOWAS Regional Electricity Regulation Authority (ERERA) forum when member states analyzed and put forth proposals that, if implemented, would have a massive impact on improving the electricity trading market.

In an effort to contribute to ERERA's mission of fostering economic growth and enhancing access to affordable and dependable power throughout the region, ECOWAS members turned out in large numbers to make the forum a success.

Some ECOWAS members who had their regulators, operators, and government representatives in attendance included Benin, Cape Verde, Côte d'Ivoire, The Gambia, Ghana, Guinea-Bissau, Guinea, Liberia, Niger, Nigeria, Senegal, Sierra Leone, and Togo.

Speaking to the media, Mr. Laurent Tossou, ERERA chairman, labelled the forum a success.

"All the countries were present. The institutions - producers, utilities, and regulators. All of them were present in this forum, which is a big achievement. Despite three countries not being here, we are working to convince them that we should be together and we should work together."

Below are the eight recommendations ECOWAS member states suggested:

Policy Alignment and Coordination:

ECOWAS member states should work towards aligning their national electricity policies with regional frameworks. This includes adopting common regulatory standards and practices to facilitate cross-border electricity trade.

Strengthening Regional Institutions:

Enhance the capacity of regional institutions like the System Market Operator of the Regional Electricity Market and ERERA to oversee and coordinate electricity trade activities. These institutions should be empowered to enforce compliance and resolve disputes.

Investment in Infrastructure:

Prioritize transmission and distribution infrastructure investments to create a reliable and interconnected electricity grid across the ECOWAS region. This should involve both upgrading existing infrastructure and developing new projects.

Gradual Market Liberalization:

Implement a phased approach to market liberalization, ensuring that necessary regulatory and institutional frameworks are in place before fully opening markets. Pilot programs and incremental reforms can help manage the transition smoothly.

Enhancing Energy Security:

Develop regional strategies to ensure energy security, including diversification of energy sources, establishment of strategic reserves, and regional cooperation on emergency response mechanisms.

Financial Support and Incentives:

Encourage the development of financial instruments and incentives to attract investment in the electricity sector. This includes exploring opportunities for blended finance, leveraging both public and private sector funding.

Capacity Building:

Invest in capacity-building programs to equip stakeholders with the necessary skills and knowledge to operate within a liberalized market framework. This includes training for regulators, policymakers, and market participants.

Public Awareness and Engagement:

Increase public awareness and engagement on the benefits of electricity market integration and liberalization. This can help build public support and address any concerns related to the transition.

The 10th edition of the forum will be hosted in Ivory Coast in 2025, as announced by the ERERA chairman.