RERA has its own Constitution stipulating the objectives, functions and other operational requirements of the Association. For more details, refer to the copy of the RERA Constitution.
For the purpose of implementing this Constitution the Members agreed on the following ‘Guiding Principles’ that:
- the developments in the Energy Sectors across the SADC region are in line with broad international trends in which neighbouring countries agree to form integrated energy markets;
- there are benefits arising from economies of scale and shared resources which are economic imperatives to pursue the development of greater integration of the Energy systems in southern Africa;
- the successful regional integration of Energy systems requires clear frameworks to facilitate – cross-border transactions, regional systems operations, a system of tariffs for use of regional transmission infrastructure, as well as future investments in such infrastructure;
- the development of compatible regulatory frameworks is essential to harmonising and creating market structures that remove barriers to trade and attract investment in the Energy Sectors across the region;
- the long-term objective is to create a financially self-sustaining RERA as an institution responsible for the facilitation of regional Energy issues and transforming RERA into a regional energy regulator in line with decisions of SADC institutions; and
- ensuring that RERA adheres to principles of good corporate governance in conducting its affairs.