The Minister for Power and Inexperienced Transition, John Jinapor, has disclosed that Ghana urgently wants billions of cedis to obtain liquid gas to maintain energy vegetation working, warning that the nation dangers a shutdown if quick funding will not be secured.
In accordance with him, over $1.7 billion is owed to Unbiased Energy Producers (IPPs), and an pressing $1.1 billion is required to obtain liquid gas for energy era.
Talking earlier than the Parliamentary Committee on Power, Mr Jinapor acknowledged that the monetary pressure is so extreme.
“We require about $1.1 billion to obtain liquid gas alone,” he disclosed.
“Sadly, the liquid gas will not be a part of the tariff construction, and so we will likely be shopping for near $15 billion of liquid gas, and that needs to be paid by the central authorities.”
He additional warned that Karpower, one of many nation’s main energy producers, has threatened to close down its plant if the federal government fails to settle an impressive debt.
“Karpower has simply despatched us a letter that by 18th, they may shut down the plant as a result of we owe them greater than $400 million. IPPs alone, we owe them $1.7 billion, and so it’s critical,” the Minister careworn.
Mr Jinapor outlined a number of components exacerbating the monetary shortfall, together with the shortage of a reserve margin within the tariff construction and chronic shortfalls in collections by the Electrical energy Firm of Ghana (ECG).
“ECG is unable to gather all of the monies, and so you might be having a deficit of about 2 billion cedis each month relating to ECG’s collections. Whenever you add that deficit and also you add the gas, which isn’t a part of the pass-through, you’re looking at over 30 billion,” he mentioned.
On his half, the Rating Member on the Power Committee, George Kwame Aboagye, criticised massive firms for failing to pay their electrical energy payments.
He additionally highlighted Ghana’s excessive transmission losses, at the moment round 29 to 30 per cent, in comparison with 8 to 9 per cent in OECD nations.
“Most of our firms on this nation don’t pay electrical energy payments, loads don’t pay, and transmission losses are additionally one other issue which the minister has to have a look at,” Mr Aboagye mentioned.
DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially symbolize the views or coverage of Multimedia Group Restricted.
DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially symbolize the views or coverage of Multimedia Group Restricted.
Source link
