Mr Amewu was speaking at a forum on Power Purchase Agreements (PPAs) in the oil and gas sector which was organized by the American Chamber of Commerce Ghana (AmCham).
Ghana aims at 100% power penetration according to its Energy Ministry
The Minister of Energy, John Peter Amewu, has said that the Ghanaian government is targeting a 100 percent electricity penetration and to also ensure that there is affordability.
About 83 percent of the population have access to power. Mr Amewu was of the view that a lot must be done to achieve the goal of universal access.
The Minister put the nation’s power demand at 2,600 megawatts and said it was presently generating close to 5,000 megawatts.
Ghana was paying between US$30 million and US$35 million for the excess capacity.
This is projected to reach an excess of US$400 million per annum by 2020. According to Mr Amewu, this gives enough cause to worry.
There was a higher capacity and higher excess charges and that was why no PPAs were going to be signed.
He announced that 11 of the PPAs had been put on hold and that other producers were also taking another look at their rates.
Mr Amewu said the government will always ensure that there was transparency in the oil and gas industry.
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