ECG receives US $ 130 million from the government for an efficient energy supply

Business News for Thursday, November 5, 2020

Source: GNA

2020-11-05

The government has awarded US $ 130 million to the Ghana Electricity Company (ECG) to help the power generating company replace its outdated equipment, reduce energy losses and ensure sustainable power generation.

John Peter Amewu, the Energy Minister, who made this known when he took his turn at the Nation Building Updates in Accra on Thursday, said it would ensure efficient electricity transport, add value to power generation and guarantee a supply of electricity. cheaper for consumers.

He noted that the stable power supply Ghanaians currently enjoy is due to inter-ministerial and agency collaboration and putting competent people in the right position to provide quality services, as well as the effective leadership provided by President Akufo-Addo.

The competencies exhibited by the CEOs of energy institutions such as the Volta River Authority, Ghana National Gas Company, Bui Power Authority, Ghana Grid Company and Energy Commission have ensured stable electricity supply and low rates, Amewu added.

He explained that the government led by Akufo-Addo had vastly improved the grid system, thus helping the flow of electricity to energy consumers.

In addition, it had completed the reverse gas flow, paid most of the debts owed to independent power producers, and transferred the Karpower barge from Tema to Sekondi-Takoradi to use natural gas, ensuring efficient utilization and lower cost of power generation.

In addition, the government in power had purchased and distributed 12 million energy-saving light bulbs, allowing energy consumers to use more energy and pay lower electricity rates, Amewu said.

According to the Social Development Outlook 2015 reports from the Institute for Social, Statistical and Economic Research (ISSER), the government of Ghana recorded losses of ¢ 924 million GHG in 2014 alone as a result of the electricity crises.

The event, on the theme: “Keeping the Lights on, Boosting Our Growth”, provides a platform for government ministries, departments and agencies to hold their stewardship to the public as part of government accountability efforts.

The Minister took the opportunity to explain the state of the country’s energy situation under the Administration of the Democratic National Congress and the measures that the current government instituted to guarantee a reliable and affordable electricity supply to consumers.

Amewu noted that the Mahama Administration increased electricity rates by 268 percent between 2010 and 2016 amid the energy crisis (dumsor), which caused the collapse of many companies.

“Today, under the government of President Akufo-Addo, the electricity rates we pay are much lower than the rates we paid in 2016.

“This is happening because the various energy agencies are talking to each other to see how each of them will play their respective roles for effective energy supply.

“This is so because the President puts competent people in the right position, we don’t need to sign a new power purchase contract or build a new power plant, but simply using their knowledge, collaboration and identity, and this is exactly what this government does. ” You have … so give Nana Akufo-Addo four more years to do more for you, “Amewu said.

Going forward, Amewu said, the Akufo-Addo government will continue the rural electrification program, participate in competitive power purchases and minimize capacity charges.