Constructive planning needed to prevent costly excess power supply — Energy Minister

Constructive planning needed to prevent costly excess power supply — Energy Minister

The Minister of Energy, John Peter Amewu, has called for constructive energy planning practices in the medium to long term, to ensure that Ghanaians are not burdened with the cost of excess energy supply.

According to him, the current high cost of energy for Ghanaian households and businesses is as a result of the excess energy capacity in the system which Ghanaians have to pay for whether the power is used or not.

His comments come at a time the government is engaging with Independent Power Producers (IPP) and Gas Suppliers (GS) to reassess all take or pay contracts and as well as resolve other energy-related issues.

Ghana currently has an installed power generation capacity of 5,083 MW, a dependable capacity of 4, 593 MW, and a peak demand of around 2,700 MW.

In effect, Ghana’s installed capacity is almost double its peak demand. Moreover, with current tariffs not at full cost recovery for power and gas, the 2019 sector shortfall is expected to grow to approximately USD$1.3 billion, and without urgent Government action, the sector shortfall will continue to increase and accumulate to more than USD$12.5 billion (more than 25% of 2017 GDP) by 2023.

Delivering the keynote address at the 2019 edition of the Ghana Energy Awards, John Peter Amewu said all steps must be taken to protect Ghanaians from any unnecessary costs in the energy sector.

“As a country, we should begin to decide whether we want to wait for demand to meet supply or to create supply in excess for demand to grow and meet. Any country that refuses to undertake constructive energy planning practices, will always create excess supply where the cost of socialization will be borne by Ghanaians.”

He went on to mention that his Ministry was committed to putting in place systems to ensure that going forward excess energy capacity is only added at a sustainable rate.

“While there are steps being taken to make sure that going forward as a country we would be mindful of our generation, transmission, distribution, supply, and metering analysis, we at the Ministry have begun to put in measures and policies that will make sure that we bring in generation at the time that demand begins to grow.”

List of Award winners at the 3rd Ghana Energy Awards

  1. Energy news reporter-Michael Creg Afful
  2. Emerging Energy Company-Webber Energy
  3. Brand of the Year- Vivo Energy
  4. Corporate Social Responsibility of Year- Kosmos Energy
  5. Innovation Project-VRA
  6. Energy Consultancy Services Provider-ACEP
  7. Off-Grid Energy Solution-TOTAL GH
  8. Energy Efficient Organization (Private) – Ashesi University
  9. Energy Efficient Organization (Public) – Energy Commission
  10. Energy Institution – Petroleum commission
  11. Excellence in Power Generation- Karpowership
  12. Strategic Deal of the Year-Springfield
  13. Clean Energy Initiative of the Year – VRA
  14. Rising Star (Individual)- Ernest Amissah
  15. Rising Star (Company) – PETROSOL
  16. Energy Company of the Year (Power) -Bui Power Authority
  17. Energy Company of the Year (Petroleum) – Ghana Gas
  18. Energy Company of the Year (Renewable) – Strategic Security System
  19. Industry Leadership Award (Power) – GRIDCo
  20. Industry Leadership Award (Petroleum) – GOIL
  21. Energy Business Leadership (Male) – Senyo Hosi
  22. Energy Business Leadership (Female) – Efuwa Quansah
  23. CEO Power-Emmanuel Antwi Darkwa
  24. CEO Petroleum – Alhassan Tampuli
  25. Osagyefo young leadership – Benjamin Boakye
  26. Exemplary leadership-Peter Amewu
  27. Energy Personality of the Year (Female) – Salma Okonkwo
  28. Energy Personality of the Year (Male) – Dr. K.D. Asante

About the Energy Awards

The Ghana Energy Awards Scheme was instituted to recognize the efforts of individuals and organisations in Ghana’s energy sector.

It is supervised by a carefully selected awarding panel constituted of experts in the industry, from both private and public sectors.

The third edition of the awards recognized the achievements of individuals and companies in the energy industry and was well attended by over 300 stakeholders.

 

 

Source: citibusinessnews.com

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