AGI complains of high cost of power

The Chief Executive Officer of the Association, Seth Twum Akwaboah said the current cost of power to the industry at 19 cents per kilowatt hour, is over 30 percent of production cost to industry.

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This is according to the AGI’s second quarter business barometer report.

Akwaboah in an interview with Accra-based Citi FM called for a restructuring of the tariff regime.

“The high cost of electricity tariffs continues to render Industry uncompetitive. Reduction in energy sector levies has not reduced tariff levels significantly. It is critical for the current tariff regime to be reassessed. We must look at the situation where industry pays more than residential consumers. It must be reversed.”

He called on the government to reduce the cost of the tariff to the industries since that will encourage economic growth and the manufacturing sector.

“At tariff levels of over 19 cents kW/h, it is important to re-examine the current utility pricing and tax regime. If the government is to chart a competitive path for the industry then we must reduce the cost of power to industry,” he stressed.

Meanwhile, the president of the AGI, James Asare-Adjei said they ready to work with the Energy Ministry and PURC to find a lasting solution to the energy pricing for the industry in Ghana.

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