Energy Minister, John Peter
Amewu says the Akufo-Addo government has brought sanity to the power
sub-sector ensuring that the country is a promised land as far as energy
is concerned.
He
said government has “reviewed several power purchase agreements saving
the country over $700 million every year for 13 years in excess capacity
charges.
“The
reviewed and renegotiated renewable energy PPAs resulted in the
reduction of tariffs from the average of $19.057 to $12.78. The
renewable energy total capacity also dropped from 2265.1MW to 515.6MW."
Taking
his turn at the Meet The Press series Tuesday in Accra, he said they
met the sector in a very deplorable state with “alarming high indebted
utilities, high electricity tariffs, poor electricity distribution
service and low energy penetration.”
According
to the Energy Minister, Ghanaians are now enjoying affordable and
reliable power due to their relentless efforts in fixing the energy
sector.
Mr Amewu also said government has also achieved significant feats in gas commercialisation.
"There has been
a significant reduction in gas price from $10.5/MMBtu to $7.89/MMBtu
and have also successfully interconnected the gas export pipeline into
Ghana's Atuabo-Takoradi to enable the Sankofa gas to be transported
through the Natural Gas Transmission System (NGTs) to various customers
across the country,” he explained.
He
cited the launching the first ever licensing Rounds Bid last year by
President Akufo-Addo, in accordance with the Petroleum Act of 2016.
Mr Amewu also noted that government directed the motivation of domestic petroleum product price increases.
"Since
March 2017 to August 2018, Government has implemented various tax
interventions such as the Removal of excise duty on 16th March 2017;
Reduction of the Special Petroleum Tax rate from 17.5% to 15% on 16th March 2017;
Reduction of the Special Petroleum Tax rate from 15% to 13% on 16th February 2018;
Conversion of the Special Petroleum Tax from Ad valorem to Specific Tax on 16th February 2018; and Reduction of the Price Stabilisation and Recovery Levies (PSRL) from 1st December 2017."
The former Lands and Natural Resources Minister also spoke on the safety of Ghanaians saying that Cabinet has
directed a number of actions including the immediate commencement of
the National Liquified Petroleum Gas (LPG) Promotion Policy based on the
Cylinder Recirculating Model (RCM).
He said this is to ensure that at least 50 per cent of Ghanaians have access to safe and environmentally friendly LPG for domestic, commercial and industrial use by 2030.
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