Launching the Arab Common Electricity Market
Cairo, December 2, 2017 – The League of Arab States announced today the launch of the Arab Common Market for Electricity, in a step aimed at achieving regional integration in the field of electric energy.
This came during the meeting of the Arab Ministerial Council for Electricity in its fifteenth session, which was held in the New Administrative Capital in Egypt, and was attended by the Ministers of Electricity and Energy and delegations from 22 Arab countries, and witnessed the signing of two agreements: the “General Agreement,” which defines the objectives of the market and mechanisms for developing it, and the “Market Agreement.” “which sets the institutional and commercial framework for the market, including operational governance and cooperation among member states.
The two agreements were signed by the UAE, Kuwait, Palestine, Syria, Egypt, Saudi Arabia, Qatar, Libya, Sudan, Yemen, Morocco, and Jordan.
This market aims to enhance the stability of electricity supplies, reduce costs, support renewable energy investments, consolidate the position of Arab countries as a major exporter of clean energy globally, improve the efficiency of electricity consumption and expand development projects, which enhances the national energy strategies of member states.
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