The West African Power Pool, WAPP, is preparing to launch its day-ahead electricity trading in the regional market following the completion of the Information and Coordination Centre, ICC, construction.
This Day-Ahead energy market allows transactions for electricity buying and selling one day in advance of delivery.
During the 59th Executive Board Meeting held in Cotonou, Benin Republic, on Friday, 7th October 2023, Engr. Dr Sule Ahmed Abdulaziz, the Executive Board Chairman and Managing Director/Chief Executive Officer of the Transmission Company of Nigeria, TCN, mentioned that the regulatory document for the next phase of the market is in the approval process at the ECOWAS Electricity Regulatory Authority, ERERA.
Operators are currently undergoing training to ensure a smooth transition once approval is granted, with support from the World Bank to recruit additional engineers.
Building and equipping of infrastructure alone does not guarantee the success of the market, adding that equally important is the behaviour of the market participants. The advent of the market he noted requires discipline and competence in operations and management as well as in financial reporting.”
Engr. Dr Sule Ahmed Abdulaziz – Executive Board Chairman and Managing Director/Chief Executive Officer of the Transmission Company of Nigeria
Dr. Abdulaziz emphasized that infrastructure alone is not enough for market success; it also requires discipline and competence among market participants. He also highlighted the upcoming inauguration of the new WAPP secretariat in November as an opportunity to showcase WAPP’s work and the potential for private investors in the sector.
This will be a unique occasion for WAPP to announce itself to the world at large. Let us make maximum use of this opportunity to not only inform the global audience about what WAPP is doing but also about the tremendous opportunities that our sector offers to private investors.”
Engr. Dr Sule Ahmed Abdulaziz – Executive Board Chairman and Managing Director/Chief Executive Officer of the Transmission Company of Nigeria
Additionally, the Secretary General of WAPP, Mr. Siengui A. Ki, praised member utilities for their contributions despite challenges like the COVID-19 pandemic and regional security issues. He urged those who haven’t paid their contributions to do so.
Chairman, Strategic Planning, and Environmental Committee of WAPP, Engr. Kabiru M. Adamu, who is also the General Manager of System Planning, at TCN, presented the WAPP Business Plan of the POOL for the next four years to the Executive Board for consideration and adoption.
The 59th session addressed various topics, including financial statements, program validation, and the WAPP business plan for 2024-2027.
The session also welcomed two new heads of utilities, Mr. Sulieman Ouedraogo from SONABEL and Mr. Gabriel Degbegni as the new Managing Director of SBEE, who will serve as members of the WAPP Board.
Story: Christy Dung