IPPs power cut threats likely to scare investors – Nana Amoasi IV.
Nana Amoasi IV, the Executive Director of the Institute for Energy Security (IES) has called on the government to engage the Chamber of Independent Power Producers of Ghana (IPPG) to rescind its decision to cut supply to the national grid from July 1.
Nana Amoasi IV warned that the supposed shutdown by the Chamber will damage the reputation of the government, the confidence of the international market in the country and the Finance Minister.
Speaking on Eyewitness News on Citi News, Nana Amoasi IV urged the IPPs to be considerate with the government as their decision to shut down will be disastrous going forward as it will send the wrong signals to potential investors.
“The IPPs must be considerate at a point. This is a shame and reputational damage because if they shut down, it is going to send the wrong signal to potential investors because it will suggest poor handling of the power sector by the government and that reputational damage will be huge going forward.”
He further charged the relevant institutions in the power transmission and distribution channel to pull up all strings together to curb the losses in the sector to reduce the cost the government incurs in generating and distributing power to homes and businesses.
“The high level of losses in the transmission and distribution chain must be curbed to resolve this because the losses incurred in the area is over 33 percent of the power that has not been accounted for.
“The Electricity Company of Ghana, Northern Electricity Distribution Company (NEDCo), and GRIDCo must also up their game and block the leakages because, for over ten years, we have been investing in the transmission system, yet it is the same level of losses that we incur and so it is time to revise the approach.”
ALSO, READ; IPPs suspend planned shutdown after engagements with ECG
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