Government And VALCO Begin Critical Talks

Critical talks between the government and Volta Aluminium Company (VALCO) on price of power will begin on Wednesday. Energy experts say it will be an arduous negotiation but the outcome should be mutually beneficial. They do not see the justification for selling power to VALCO at less than two cents per a kilowatt-hour when, indeed the Volta River Authority imports power from Cote d’Ivoire at five cents per kilowatt hour.

These experts say it is important for the two parties to recognise that since 1962, when the government agreed to sell power to VALCO at cheaper prices, there has been enormous changes in the social, economic and political conditions with their implications, which should not be glossed over. Times have changed and the two parties need to re-examine power prices.

They expressed the hope that VALCO will see the need to take a second look at the price they pay for power. VALCO has been buying power at relatively cheaper prices due to an agreement they signed with Ghana’s First President, Dr Kwame Nkrumah after they helped to finance the building of the Akosombo Dam.