Comesa plans to set up regional energy regulator

Comesa plans to set up regional energy regulator
Published: 16 July 2018
THE Common Market for Eastern and Southern Africa (Comesa) plans to establish a regional energy regulatory authority to enhance sustainable energy investment and development.

Comesa is a regional grouping of 19 African States including Zimbabwe, which have agreed to promote regional integration through trade development and investment. The trading bloc hopes to ride on the Regional Association of Energy Regulators of Eastern and Southern Africa (RAERESA) to spearhead the implementation of the European Union-funded Project on Enhancement of a Sustainable Regional Energy Market in the Eastern Africa, Southern Africa and Indian Ocean (EA-SA-IO) region.

"The overall objective of this is to develop a framework and roadmap for the establishment of a regional energy regulatory authority for the Sadc region," said Comesa in a statement.

It said the project was also aimed at enhancing a sustainable regional energy market in the EA-SA-IO region, which is conducive to investment and promoting sustainable development. The project is relevant for the African Union's Agenda 2030 and 2063.

Comesa noted that most countries in the EA-SA-IO region have experienced energy challenges, although it was a region with high potential capacity of energy when compared to other sub-Saharan African regions.

It said such challenges were manifested by inadequate level and coverage of physical energy infrastructure due to insufficient investment in the energy sector, inefficiency and unreliability of existing energy infrastructure services, increased demand for economic growth and population growth, among others.

"These challenges have resulted in increased cost of doing business, which has negatively impacted the competitiveness of the region in its internal and external markets.

"It is envisaged that the planned expansion of the cross-border power transmission interconnectors and the sections underway could, in short, medium and longer term, increase the share of electricity traded between the regions and the nations," said Comesa.
- chronicle
Tags: Comesa,


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