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Business News of Tuesday, 3 January 2017

Source: Kasapa FM

Explore realistic system to shore up power – ACEP to NPP Government

The Africa Centre for Energy Policy (ACEP), an energy think tank, wants the incoming NPP administration to explore sustainable sources of funding for Ghana’s growing power needs.

The country’s current power deficit is estimated between 150-250 MW,a situation analysts say is a worrying trend for Ghana’s energy sector.

According to ACEP, it is incumbent on the Akufo-Addo-led administration taking over the reins of power to come up with a realistic system that will save a recurrent power crisis likely to bounce back if clear cut policies are not introduced by government.

“If energy commission says that demand grows at 10% annually, we projected that demand will be around 2400 MW this year. So if demand is 1800 what it means is that maybe some companies that were off like Cold store and others that were collapsed and all that are not up now so if they start operating what will happen. So I think the situation is fragile and there is no time for partying.

“We should look at getting sustainable source of funding for our fuel.Nigeria gives us fuel;if we are going to invest in regasification plant, so that we can even import LNG from Equitorial Guinea, and some of these things we should come out with measures that will get us the demand of 2400, the Head of Policy Unit at the centre, Dr Ishmael Ackah said.

The country underwent a severe load-shedding regime that peaked between 2013 and 2015 characterised by unannounced outages across the country.

The country’s installed capacity of 2,443 megawatts decreased to 1,634 megawatts and brought disruption in businesses and for residential users of electricity.

Consumers were frustrated with the outages and were critical of the NDC government for being clueless about the means to get the country out of what was popularly coined the DUMSOR regime.

Meanwhile some elements within the outgoing NDC administration say the NDC’s big defeat at the polls in 2016 was the toll effect of the power crisis that the nation plunged into under the Mahama-led government.

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