WAPP hosts a Strategic Finance Directors’ Meeting ahead of the Launch of Market Phase 2 of the Regional Electricity Market

From 15th to 19th December 2025, the West African Power Pool (WAPP) brought together the Finance Directors of its utilities, along with members of the Engineering Operating Committee (EOC), for a week of strategic discussions. This highly anticipated meeting provided an opportunity to review major milestones achieved in the development of the Regional Electricity Market and to strengthen coordination ahead of the launch of Market Phase 2.

Participants reflected on a landmark achievement reached this year: Following the approval by ARREC of the Regional Electricity Market Code for West Africa (REMC-WA) in September 2025. With this regulatory framework now in place, work has intensified on the key instruments required for the effective implementation of Phase 2, including settlement procedures, settlement bank selection criteria, and financial guarantee mechanisms aimed at enhancing security and building trust among market participants.

Another major advancement highlighted during the week was the completion of negotiations for the appointment of the Clearing Bank, a central pillar of the market’s financial architecture. Its establishment will enable secure, transparent, and timely settlements an essential foundation for credible and seamless commercial exchanges at the regional level.

Throughout the meeting, discussions focused on the financial architecture of the regional market, the types of transactions to be executed, and the mechanisms designed to ensure payment security. The exchanges were rich and constructive, contributing to the refinement of the tools required to establish a stable, attractive, and efficient market environment.

By the end of the week, a clear feeling emerged: Market Phase 2 of the Regional Electricity Market is no longer a distant objective but an imminent reality. Thanks to strengthened collaboration among utilities, regulators, and regional institutions, West Africa is moving closer to a more competitive, more reliable, and truly integrated electricity market one capable of supporting the region’s economic growth and sustainably improving access to quality energy for millions of citizens.