Connect with us

Energy

Energy Minister pitches strongly for Ghana in Barcelona; reiterates natural gas as country’s transition fuel

Published

on

The Energy Minister, Dr. Matthew Opoku Prempeh, has asked investors and decision makers gathered at the North Africa and Europe Energy Exhibition and Conference (NAEPEC) to explore the several opportunities in Ghana’s energy sector for the mutual benefit of both Ghana and the investors.

Speaking as a keynote speaker on the topic: “Ghana’s current energy sector initiatives, the global energy transition, and opportunities available in Ghana’s near – term initiatives and project”, the Minister said Ghana and for that matter Africa has  suddenly become a new hotspot for oil and gas activities but at the same time has to compete for risk-capital in an industry whose very existence is being challenged by the energy transition agenda and the systematic shift in investments from fossil fuels to clean and renewable energy.

According to Dr. Prempeh, Ghana’s energy sector is largely regulated by an energy policy that promotes sustainable development of the energy resources available in the country as well as the development of the requisite infrastructure.

The policy he said also aims at achieving affordable and reliable energy for domestic and industrial consumption.

Energy Transition

In the Minister’s view the global energy transition presents Ghana and the entire globe, with an opportunity to improve on existing policies and initiatives to foster the development of all sectors of economies through the provision of affordable and reliable energy and importantly, improve on even the quality of the air the world breathes.

“Our respective energy transition plans must therefore take into perspective all the sectors of our economies with deliberate efforts channeled at achieving de-carbonisation, energy security, access and efficiency to accelerate industrialization and yet lower carbon dioxide emissions and energy demand”, he said.

He continued “these issues have to be dealt with through policy and regulatory reforms, fiscal market development and incentives to achieve sustainable consumption and production of energy at national, sub-regional and continental levels”.

The Minister who is also the Member of Parliament for Manhyia South said Ghana’s $562.00 billion Energy Transition Framework aims to provide the optimal and sustainable pathway for fuel supply security, diversified energy mix and cost-efficient electricity generation with an estimated medium to long term average electricity generation tariff of $4.5cents/kwh to accelerate the socio-economic development of Ghana.

 Near-term opportunities

The Minister said the transition framework implementation will lead to the creation of over 1.4 million new jobs and all of you here are invited to be part of Ghana’s energy transition story.

“We require partnerships from the private sector to develop clean energy resources and the associated infrastructure through win-win transactions” he said.

“The establishment of a Petroleum Hub is one of the government’s strategic private-sector led anchor initiatives that would serve as a new pillar of growth in the Ghanaian economy.

This $60 billion phased project will be a significant addition to Ghana’s economy, as the country would become a net exporter of petroleum products”, he added.

He further said that natural gas has a critical role in our energy transition framework for power and non-power uses in the medium to long term and this is anticipated to come from domestic sources.

“For us, natural gas shall be the transition fuel for electricity production, industrial heating and transport” he reiterated.

He continued “the establishment of the African Continental Free Trade Area (AfCTA) has undoubtedly created the largest free trade area in the world, measured by the number of countries participating”.

The pact creates a market of over 1.3 billion people across 55 countries with a combined GDP of approximately Four Trillion United States Dollars ($4 trillion).

Dr. Prempeh emphasised that Ghana’s political stability and positive prospects certainly underpin the reason it hosts the headquarters of the African Continental Free Trade Area.

This, he said is certainly a catalyst for quick returns on investments as investors would be exposed to several markets on the African Continent if they pursue the opportunities in Ghana.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Energy

ECG denies ‘Dumsor’, rules out load-shedding timetable

Published

on

The Electricity Company of Ghana (ECG) has reassured the public that there is no need for a load-shedding timetable despite recent power interruptions.

In response to concerns about power supply challenges, ECG stated that the current issues do not warrant the implementation of a load-shedding timetable.

Laila Abubakar, the External Communications Manager at ECG, clarified that the recent power cuts may be due to other factors and emphasized that the notorious ‘dumsor’ phenomenon has not returned.

She assured the public that ECG’s management is diligently working to address the challenges facing the power sector.

“The thing is, we just want people to be aware that when your power goes off, it is not always a matter of load shedding. There are several issues and there are some of them that fall before the doorsteps of ECG. We are doing as much as possible to solve the ones that we can.”

“There aren’t any issues with shedding load. The load shed, I think is what people understand by ‘Dumsor’. But usually, when someone asks me if, there is Dumsor, I ask them what do you understand and what do you think ‘Dumsor’ means. Unfortunately, there wouldn’t be a timetable,” she insisted.

Meanwhile, John Abdulai Jinapor, the Ranking Member on Parliament’s Mines and Energy Committee, has asserted that the ongoing power outages in various parts of the country stem from financial constraints rather than faulty transformers.

Mr Jinapor refuted claims by the ECG that the outages were due to transformer repairs, alleging that the root cause is a shortfall in electricity generation capacity.

Continue Reading

Energy

ECG Ashaiman District uncovers 130 illegal connections

Published

on

The Ashaiman District of the Electricity Company of Ghana has discovered a total of 130 illegal connections within its operational area over a three day period.

The discoveries, which were part of a revenue mobilisation project the district was embarking on was started on Monday, March 4, 2024.

Speaking on the progress of the activities to media professionals, the Manager for the District, Ing. Kissi Ohenebeng mentioned that “with the 130 illegal connections seen, summons were given to the respective customers who started reporting to the office from Tuesday, March 5, 2024, to rectify the issues identified.”

He added that “over the three days that the project had been ongoing, his outfit, with support from a number of staff from eight other districts as well as the regional office of the Tema Region of the company had been able to visit over 5000 customers of the power distributor”.

Ing. Ohenebeng, when asked about possible prosecution of those caught with illegal connections indicated that “indeed should customers default in payments, the company is always ready to explore the possibility of addressing the situation at the court”.

He further added that “illegal connection is basically stealing, which makes it a criminal offence and admonished customers to desist from such acts as the consequences could be unpleasant.”

The Ashaiman District of the ECG is under the Tema Region, which also has Tema North, Tema South, Afienya, Prampram, Ada, Nungua, Juapong, Krobo Districts. Staff were deployed from all over the region to Ashaiman District to support the special revenue mobilisation exercise.

The Acting General Manager of the ECG Tema Region, Ing. Daniel Asare-Mensah on his part, encouraged customers to “be ready to pay for power consumed and to pay on time to avoid debt build up.”

Ing. Asare-Mensah indicated that the Ashaiman exercise would end by close of day Friday, March 8, 2024, while a similar project with support from the region’s workforce will be replicated in the other districts.

He also indicated that the Afienya and Prampram Districts will be the next to run such special revenue mobilisation exercises.

Continue Reading

Energy

ECG Replacing 450,000 Old Metres In Accra West Region

Published

on

The Electricity Company of Ghana Ltd. (ECG) has commenced an exercise to replace over 450,000 old metres in the Accra West region.

The Company over the course of the exercise would be replacing postpaid, non-smart prepaid and faulty metres in the region with MMS-compliant smart prepaid metres, over the next five months.

The metre replacement exercise is part of the Company’s Loss Reduction Programme (LRP); an initiative to facilitate the installation of smart meters, and to improve energy accounting.

The programme aims to ensure the availability of metres to meet service connection requests and reduce system losses.

The Accra West region General Manager of ECG, Ing. Emmanuel Akinie assured customers of the convenience that the smart prepaid meters offer.

“With the smart prepaid metres, a customer can buy credits unto their metres from the comfort of their homes or anywhere they are, by downloading the ECG Power app, or using the short code *226#”, he said.

Mr. Akinie revealed that the officers undertaking the replacement exercise will identify themselves with official letters from ECG, authorizing their activity, and assured that outstanding balances on the old metre will be accounted for, and transferred to the customers’ new smart prepaid metre.

He said the metre replacement exercise is free, hence encouraged customers to allow the officers into their premises to replace their old metres.

Districts in the Accra West region are Ablekuma, Achimota, Amasaman, Bortianor, Dansoman, Kaneshie, Korlebu and Nsawam.

Continue Reading

Trending