Government begins talks with IPPS, Gas Producers to reform ‘take or pay’ structure
Government has announced it will kick-start an initial three-month consultation process, which will include each of the (Independent Power Producers) IPPs and Gas Producers among others.
The consultation will provide a forum for stakeholders to contribute to the Government’s energy strategy.
Government through the Ministry of Finance and the Ministry of Energy hosted Independent Power Producers (IPP) and Gas Producers at this meeting.
The meeting addressed the government’s approach to reforming the current take or pay structure and excess supply that undermine the energy sector and pose serious financial risks to the economy.
Ghana is leading the way in energy supply and electricity coverage in Africa. The government recognises that it is in the interest of its citizens, businesses and investors for the economy to continue to flourish. Therefore, it intends to deliver a sustainable, fair and balanced energy sector for all stakeholders – domestic and international.
“Moving Ghana Beyond Aid means Government is committed to achieving security of electricity supply and sustainable generating capacity that offers reliable and affordable power for the Ghanaian people and businesses, whilst providing investors with attractive opportunities. As a result, Government continues to promote policies to deliver a regime of competitive tariffs, growth of strategic industries, and universal access to power,” a statement from the Ministry of Finance said.
The statement added, “As part of its long term strategy, reflecting financial, environmental and industrial considerations, Ghana will also continue to look to develop its gas sector.
A long term sustainable strategy would seek to create a competitive and dynamic energy sector that guarantees reliable and affordable power for the Ghanaian people and businesses, whilst providing investors with attractive opportunities.”
Ghana prides itself as an investment destination of choice and is committed to promoting a conducive and stable environment for investors.