Accra, Friday, 20th September, 2019… Government has recently announced at a meeting hosted by the Ministry of Finance, the Ministry of Energy, the Independent Power Producers (IPPs) and Gas Suppliers (GSs) on 26th August, 2019, that it is forming a steering committee under the Energy Sector Recovery Task Force to engage with each IPP and GS to resolve the Take-or-Pay power contracts crippling the country’s energy sector.
The collaborative consultation process, welcomed by the investor community, will provide a forum for stakeholders to contribute to Ghana’s energy strategy, which is fundamental to the country’s industrialisation and sustainable growth.
To allow time for the ongoing collaborative consultation process with the IPPs and GSs, Government considers it appropriate to place a hold on its initial instructions issued on 1st August, 2019 whereby government instructed Electricity Company of Ghana Limited (“ECG”), Ghana National Petroleum Corporation (“GNPC”) and Power Distribution Services (“PDS”) to pay only for power/gas consumed.
Government welcomes the active participation of the IPPs and GSs in the necessary task seeking a managed transition from the current model towards a balanced relationship capable of delivering fair, long-term energy solutions that reflect reality and offer long-term sustainability for IPPs and GSs in Ghana.
THE NEWS EDITOR