- According to a recent article by Citi Business News, the government is yet to engage with Independent Power Producers (IPPs) over debts as a power crisis looms. The IPPs argue that without receiving payment by close of June 30, they will be unable to sustain the national grid.
- Sources close to Citi Business News suggest that the meeting is yet to be held with the power producers resolute with their threats to halt the operations of their plants starting July 1, 2023, unless the government addresses their concerns.
- The production, distribution, and trading of energy are all operations that the government is involved in in Ghana. Both renewable and fossil fuels are used to provide the energy that powers the nation’s electrical production and consumption. In Ghana, hydropower is the second-largest source of electricity production after gas. Some of the primary renewable energy sources in the nation are hydropower and solar energy, however the latter has a relatively lower generation capacity.
- Ghana’s power industry is going through a change. The government is making an effort to increase private sector involvement in the industry. The market for electricity generation, which was formerly dominated by the public sector, has started to see the entry of Independent Power Producers (IPPs).
- Despite the fact that energy production exceeds demand, power is still expensive and inconsistent, which has made conducting business in the nation difficult. Over the past ten years, Ghana has made considerable strides in improving access to and production of energy. But these enhancements mask inefficiencies, such as astronomically large distribution losses.
