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Special Energy Tariffs Disclose total amounts raised so far- Stakeholders charge Gov't

At the time the energy levies were introduced, the Volta River Authority owed domestic banks close to 1 billion cedis, making it difficult to obtain finance to purchase gas to power the county’s thermal plants.

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 Head of Research at the Integrated Social Development Centre, Dr. Steven Manteaw play

 Head of Research at the Integrated Social Development Centre, Dr. Steven Manteaw

Stakeholders in the Oil and Gas sector are asking for full disclosure of total revenues raised from the Emergency Energy Levies.

In November 2015, government introduced the Special Energy Levies also known as the Emergency Energy levies to raise enough revenues from the sale of petroleum products to Ghanaians. The monies were supposed to be used to offset  the debts of the country’s energy providers.

At the time the energy levies were introduced, the Volta River Authority owed domestic banks close to 1 billion cedis, making it difficult to obtain finance to purchase gas to power the county’s thermal plants.

Government  also instituted the special energy tariffs to payback Bulk Oil Distribution companies for unpaid subsidies and forex exchange cushioning running into about 2 billion Ghana Cedis..

After government announced last week that it was ready to pay back BDCs, signalling that it had raised enough  monies from the Special Energy Tariffs, stakeholders from the oil and gas sector have demanded full disclosure of the total amounts raised from the Special Energy Levies so far.

Speaking to pulse.com.gh the Head of Research at the Integrated Social Development Centre, Dr. Steven Manteaw who has been championing the call for full disclosure, said government is being elusive with the disclosure of the total amounts of money raised under the Special Energy Tariffs so far.

“ I have been personally  enquiring from the Ministry of Finance  the total amounts of money that have been raised under the Special Energy Tariffs so far, and they tell me that an Escrow account has been  opened between them and the ECG, which the ECG tells me they know nothing about.”

Dr. Manteaw described the situation surrounding the administration of the energy levies as suspicious. He fears the Special Energy levies may end up like the Tema Oil Refinery levies, which were imposed in perpetuity.   

READ MORE: Finance Ministry misled parliament- Moses Asaga

“ We risk having the TOR Refinery levy situation all over again, where we will be made to pay the Special Energy Levy in perpetuity without full disclosure of the amounts collected.” Dr. Manteaw said.

When asked how the total revenues generated under the energy levies will be accounted for, Dr. Manteaw revealed the Ministry of Finance are the sole custodians of the account, hence the only ones to make it open, which they are currently reluctant to do.                                                                                                                                                                                                                                                                                                                                                                                              

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