He stressed that the pursuit of energy security in West Africa required a holistic approach that considers geopolitical dynamics, promotes sustainable devel­opment, and fosters regional cooperation.

“By embracing these princi­ples, West Africa can harness its energy potential to drive eco­nomic growth, enhance regional stability, and contribute to global energy security,” he stressed.

 Mr Krapa made the call at the opening of the 9th ECOWAS Re­gional Electricity Regulatory (ER­ERA) forum yesterday in Accra on the topic ‘Geopolitical Dynamics and Energy Security: Implications for the West Africa Region.’

The forum is being organised on the theme ‘Electricity Trade Security in ECOWAS Region: The Interplay between National Policies and Free Market.’

It has offered the region’s energy experts the platform to identify best practices and opportunities to build and safeguard energy security in the region, aiming to develop a regional electricity market in ECOWAS.

The experts include ministries in charge of energy, parliamentarians, academics, researchers, consumer groups, regulators, operators, inves­tors, civil society groups, as well as financial and technical partners.

They are expected to discuss mechanisms for resolving disputes and enforcing agreements related to electricity trade within the region, analyse the role of national policies in shaping electricity trade security within the ECOWAS region.

Other issues for deliberation are free market principles in cross-bor­der electricity trading countries, and the challenges and opportunities presented by the interplay between national policies and free market principles in ensuring electricity trade security along the value chain.

Mr Krapa noted that electricity trade security in the ECOWAS region had become increasingly critical, as the region faced signif­icant energy challenges despite its immense potential and profound challenges.

“We are blessed with abundant natural resources, including vast re­serves of oil and gas, sunshine, and wind, and the region has emerged as a pivotal player in the global energy landscape. However, this wealth comes hand in hand with complex geopolitical dynamics that shape both regional stability and international relations,” he added.

Mr Krapa stated that proactive engagement with international financial institutions and develop­ment partners could help facilitate access to financing and techni­cal expertise to develop critical energy infrastructure projects, while geopolitical tensions and inconsistent policies could deter investments.

He called for cohesive inter­national relations strategies to promote stability, cooperation, and sustainable development across the region.

The Chair of ERERA, MrKo­cou Laurent Rodrigues, in his opening remarks, said the region should strive to be interdepen­dent in energy supply, work together to build infrastructure and electricity systems.

He indicated that they would identify innovative financing as well as build institutional and legislative frameworks toward a unified and prosperous competi­tive regional electricity market.

He further noted that ERERA, since 2009, had been working with all actors in the regional electricity sector to establish a credible,coherent institutional and legal environment for the devel­opment of a unified and prosper­ous regional electricity market.

The Chair charged the experts to take advantage of the opportu­nity and make decisions accept­able to all parties toward achiev­ing the objectives of the forum.