Africa

ECA and its partners publish a methodological report on the assessment of the regulation of the electricity market in Africa

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ECA and its partners publish a methodological report on the assessment of the regulation of the electricity market in Africa

This is in line with the key recommendation of the HLDE in the thematic area of ​​finance and investment

ADDIS-ABABA, Ethiopia, September 25, 2021 / APO Group / –

Released on September 24 under the auspices of a High-Level Dialogue on Energy (HLDE) held on the margins of the 76th United Nations General Assembly, the report aims to support the implementation of the HLDE’s recommendations on regulation and increased private sector investment.

It discusses issues relating to the openness, attractiveness and readiness of Africa’s regulatory environment for private sector-wide investment participation throughout the value chain of Africa. electricity.

The HLDE calls for strong private sector participation in energy infrastructure investments along the value chain by addressing uncertainties in policy and regulatory environments. In this regard, the HLDE endorses many recommendations, including reducing project risks and setting regulatory barriers to ensure market openness, attractiveness and preparation for private sector financing.

It is in this context that the Economic Commission for Africa (ECA), through its pillar domain of the SDG7 Finance initiative on governance of the energy sector, jointly and in partnership with the RES4Africa Foundation through its Missing Links initiative, has developed a methodology to help Member States undertake assessment of the regulation of their electricity market.

This is in line with the key recommendation of the HLDE in the thematic area of ​​finance and investment. ECA and RES4Africa engaged 17 African countries in assessing the regulatory environment to support improvements and reforms.

In the final years of the Decade of Action, Member States are called upon to accelerate action to achieve the goals of SDG7 and enable a just energy transition towards a clean and sustainable energy future for all.

As African countries seek greater openness, attractiveness and readiness of their electricity markets for greater investment, this regulatory review methodology is expected to provide a useful guide to identifying areas of strength. and regulatory gaps to be filled towards an enabling environment for accelerated action to meet SDG7 Goals.

In the context of global investments in the energy sector of $ 1.9 trillion, of which emerging and developing countries have attracted 1 / 5th of this investment, and even a fraction in Africa, it is crucial to remove the obstacles to private sector participation by addressing key regulatory challenges.

In the African context – with 590 million people without access to electricity, 13 million more losing access in 2019-2020 due to the effects of COVID, 24 countries with access levels below 50 %, and 31% of primary schools and one level of health facilities lack access – accelerating private sector investment remains crucial.

The HLDE reviewed recommendations in the key thematic areas of energy access, energy transition, achievement of the SDGs through inclusive and fair energy transition, innovation, technology and data and on financing and investment.

The Dialogue was held under the theme “Accelerating action to achieve SDG7 in support of the 2030 Agenda and the Paris Agreement” and served as a platform for Heads of State and Government to launch pacts and actions for clean and affordable energy for all during the Decade. of Action.

Short Link: https://wp.me/pcj2iU-3Cvh

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