The ECOWAS Regional Electricity Regulatory Authority (ERERA) and the Independent Regulatory Board (IRB), the regulatory arm of the Eastern African Power Pool (EAPP), have committed to deepening their cooperation.
Through a Memorandum of Understanding (MOU) signed on Tuesday, the two bodies would exchange managerial and technical experiences, best practices in the operation of a regional power trade.
They would also share regulation and exchange of information, documents, and experiences in the areas of regional electricity market regulation, electricity trade and power system operations.
A statement issued by the ERERA Communications Unit in Accra yesterday said the ERERA’s Regulatory Council Member, Dr Haliru Dikko signed the document on behalf of the Authority.
The co-signatory was Director General of the Energy and Water Utilities Regulatory Authority of Tanzania,Mr ModestusLumato, who is also the Head of EAPP delegation and the IRB.
ERERA is the regulator of regional cross-border trade of electricity in West Africa and the regional regulator of cross border electricity interconnections in West Africa.
EAPP is a 13-member Inter-Governmental Organisation set up in 2005, to interconnect their electricity grids and take advantage of excess capacity within the network and facilitate trade of electric power between them.
The MOU was signed on the sidelines of a study tour of a 13-member EAPP delegation to ECOWAS institutions to have first-hand knowledge and experience in the process of establishing a functional regional energy regulatory institution for East Africa as well as share experience.
The statement said the MOU also provides for both parties to undertake exchange and partnership programmes for capacity building between their members as well as share training programmes and institutes.
“ERERA and the IRB have common objectives which are to regulate regional electricity and power market, oversee the establishment of a transparent, and predictable tariff-setting methodology for regional power pooling and trading as well as harmonise policies, legislation, and regulation of national power sectors with a view to advancing regional power trade,” it said.
The statement said the meeting with ERERA enabled members of the delegation to learn from and share experiences in the development of regional energy markets, particularly the establishment of regulatory structures for such markets.
It said the delegation was provided an opportunity to understand the benefits of empowering a regional energy regulator such as ERERA, particularly in facilitating regional energy projects and cross-border trade.
BY TIMES REPORTER