The Ivorian electricity sector is undergoing significant changes due to new entrants, increased investments in generation projects, and the development of new policies and initiatives. Using a political economy perspective and a qualitative research method, this paper analyses the dynamics shaping this sector's transformation. Empirically, the study contributes to the understanding of power relations in the energy sector in Cote d'Ivoire. It adds to the growing research on changes in the energy sector in West African countries. Theoretically, the paper contributes to the literature on the political economy of the electricity sector in Sub-Saharan Africa by highlighting neo-colonial relations. The study identifies the actors and institutions involved in the Ivorian electricity sector as well as their interests, and examines the instrumental and structural power of key actors. The findings reveal that, first a three-party institutional structure consisting of the President of the Republic, the Ministry of Energy, and the public agency Ci-Energies all play decisive roles in the decision-making processes at the national level and apply a top-down approach. This institutional trio exerts instrumental power and is able to influence the inclusion and exclusion of stakeholders which has implications for the inclusivity of the sector. Second, there are complex power interrelations among actors, and the sector heavily relies on international finance and has been shaped by vested interests from international actors including French companies. The paper argues that uneven power relations allow the prevalence of foreign interests and impede the development of the domestic electricity industry.