Energy and Finance Ministries must provide funding to fix energy challenges – IES

The Institute’s recommendation is on the heels of recent sanctions by the Public Utilities Regulatory Commission (PURC) against the Electricity Company of Ghana (ECG) for various regulatory breaches. 

“The current action is consistent with the oversight responsibility that PURC must have over the industry,” he said and encouraged ECG to oblige with the orders of the Regulator.  

For failure to submit details of all bank accounts to the Commission, PURC imposed an initial regulatory charge of 3,000 penalty units on ECG amounting GHS36,000, which is to be paid by April 22, 2024. 

Mr Ishmael Edjekumhene, a Commissioner with PURC, on Wednesday, told GNA that they were yet to receive any update on any action taken by ECG on payment or negotiations on the sanctions. 

Meanwhile, the Energy Commission in its 2024 Energy Outlook for Ghana, highlighted the need for critical investment for the energy and electricity sub-sector, particularly, improved gas supply reliability, owing to the increasing dependency on natural gas for power generation. 

The Commission noted that the security and adequacy of fuel supply to thermal plants remained the single most important risk to power supply reliability in the country. 

“In this regard, it is strongly recommended that all stakeholders work together to ensure that the fuel supply is adequate and secure at all times,” the Energy Commission stated in its report.