Volume 3 (Institutional Aspects of the Electricity Market) of the Report on Module 7 (Power Trade Strategy) of Phase I of the Eastern Nile Power Trade Program Study, implemented by ENTRO from 2006 – 2008. It examines barriers to developing a highly integrated regional market, uses experiences from other global markets to identify options for the Eastern Nile Electricity Market, outlines proposals for market design - including a Regional Cooperative Framework, and discusses the financing challenge for hydropower development. A fundamental idea is that the market should be flexible enough to accommodate the approaches taken in each country’s market. To that effect, the volume reviews the possible options and assesses the key factors influencing the design of the market, keeping in mind technical and commercial requirements, barriers to developing a highly integrated market, and regional cooperative frameworks under development (the Nile Bain Initiative/NBI Regional Power Trade Project, the Nile Basin Power Forum, and the East African Power Pool).