Energy think tank, African Centre for Energy Policy (ACEP), still stands by its suggestion that government should make the Ghana National Gas Company (GNGC) a subsidiary of the Ghana National Petroleum Corporation (GNPC) with regards to the implementation of the Gas Master Plan and not an aggregator. According to ACEP,...
Debt profile likely to be exacerbated by COVID-19 power subsidy
Demand for future borrowings to pay power producers for today’s COVID-19-induced freebies is likely to exacerbate the country’s already precarious debt profile and push Ghana into a sovereign financial crisis if adequate measures are not taken, Dr. Jerry Kombat Monfant, President of MBIC Group – a management and strategy consulting...
SUNON ASOGLI POWER GHANA LIMITED AND GRIDCO COMPLETE US$5.3M PROJECT TO BOOST GHANA’S POWER SUPPLY
Sunon Asogli Power Ghana and Ghana Grid Company have completed a US$5.3m project to increase power transmission capacity in the country. The project, which commenced full-scale operation on Saturday April 18, 2020, involves the installation of a 200MVA Autotransformer to facilitate evacuation of about 120MVA additional generation capacity from the...
Power relief to cost GH 1.1 Billion
The cost of a 50 percent waiver for electricity consumers for three months due to the impact of COVID-19 will cost the Electricity Company of Ghana some GH¢732million, the Minister of Energy, John Peter Amewu, has revealed. Apart from the ECG, the Volta River Authority (VRA) and Northern Electricity Distribution...
Electricity Bills Waiver Spells Doom for Debt Ridden Power Sector
Government’s decision to take up 50 percent of electricity bills for residential, commercial and industrial users and free electricity for the poor for the next three months, according to energy and power experts, could be the final nail in the coffin of a debt-stricken sector hanging by a thread. According...
Use US$2bn Energy Fund to finance capacity charges – CIPDiB to Government
It will be more prudent to use the mooted US$2billion Energy Sector Fund to finance capacity charges rather than re-financing the existing debt of Independent Power Producers (IPPS), the Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDiB–Ghana) has said. The Chamber wants the Fund to be used for...
COPEC demands reduction in fuel prices as global crude prices drop again
The Chamber of Petroleum Consumers, COPEC, wants Oil Marketing Companies (OMCs) in the country to reduce their ex-pump prices for consumers to reflect the sustained decline in the global crude oil prices. According to COPEC, consumers could be benefitting from a reduction of between 10%-32% compared to the 2% that...