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Establishment of the CIC of the regional electricity market: a revolution is taking place in West Africa in the energy sector

16/11/2023
Source : ORISHAS FINANCE
Categories: Index/Markets

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Une conférence de presse a été organisée hier, mercredi 15 novembre 2023 au siège du WAPP in Abomey-Calavi, in preparation for the inauguration of the Information and Coordination Center (CIC) of ECOWAS regional electricity market. It was led by the Secretary General of the West African Power Pool (WAPP), Siengui Apollinaire KI, and Joël Neubert, Head of Cooperation at the European Union (EU) Delegation in Benin

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The establishment of the Regional Electricity Market Information and Coordination Center constitutes a revolution in West Africa in the energy sector. According to the Secretary General of the West African Power Pool (WAPP), Siengui Apollinaire KI, “the CIC will eventually be a kind of electricity exchange that will allow, at the regional level, to set up an interactive market where the law of supply and demand will play out”. According to the latter, the CIC is the tool for managing the regional electricity market in the ECOWAS region, a market where electricity producers (public or private) will sell their production to potential buyers who are generally the distributors who supply the final consumer. Purchases and sales of electrical energy will be carried out following a transparent, open and competitive procedure, which comply with regional electricity trade regulations.

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