The drive for a common standards electricity clearing house by the ECOWAS Regional Electricity Regulatory Authority (ERERA) has been boosted with the assurance given by the Ghanaian president John Dramani Mahama of his country’s support for the launch and effective take-off of the regional power market later in 2016.

The President made the commitment while receiving a five-member ERERA delegation led by the institution’s Acting Chairperson, Mrs. Ifey Ikeonu and Regulatory Council Member, Mr. Alagi Gaye, at the Flag Staff House in Accra, Ghana.

President Mahama stated that Ghana was working towards meeting its dual target of energy self-sufficiency as well as being a net exporter of electricity in the region. He therefore commended the initiatives of ERERA towards the development of the regional electricity market.

The Ghanaian leader also spoke of the heightened activities at improving energy access to all areas of the country, especially some rural communities, despite the many challenges, such as those caused by climate change.

He said the progress being made by Ghana, especially with the introduction of renewable energy such as solar power, is commendable while energy prices are becoming “more competitive”.

“I believe you have a role to play when it comes to renewable energy”, the President told the ERERA delegation.

He acknowledged Ghana’s comparative advantage in terms of power supply to other ECOWAS Member States, and reiterated the country’s readiness to support the regional electricity market.

Earlier, Mrs. Ifey Ikeonu briefed President Mahama on ERERA’s core mandate and objectives, as well as build-up activities towards the launch of the regional electricity market scheduled for the last quarter of 2016.

ERERA, she disclosed, has already approved such instruments as the Regional Electricity Market Rules that would guide market participants, and is now finalizing work on the dispute resolution Rules and contract templates, two other critical instruments which are prerequisites for the launch of the market.

She also spoke of the approval of a tariff methodology which will determine the cost of trans-border wheeling of electricity, as well as the West African Power Pool (WAPP) Operations Manual.

Mrs. Ikeonu gave insights to the synergy between ERERA and WAPP, the two regional energy institutions tasked with ensuring a successful ECOWAS electricity market and briefed the Ghanaian President on the implementation of the 2013 ECOWAS Directive on the Organization of the Regional Electricity Market. Ghana, she said, has fully met all the requirements of the directive.

Among others, the Directive provides for the gradual establishment of the ECOWAS regional power market through the harmonization of national electricity markets. It also provides for a regional market design and market phases, open access to the regional transmission network and access by eligible customers.

Maintaining that other Member States can benefit from Ghana’s experience in the power sector for the overall good of the ECOWAS Community, ERERA’s Acting Chairperson appealed to President Mahama to assist in ensuring that Member States are fully aware of Ghana’s initiative in the power sector, especially with regards to the ECOWAS directive, seeing that “non-compliance with it would hinder the operations of the electricity market”.