Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

ECG concession: Tariffs won’t go up – MiDA

aboadze electricityThe concession arrangement for the Electricity Company of Ghana (ECG) will not result in high power tariffs, the Millennium Development Authority (MiDA) has said in a statement.


This is against claims by the Public Utilities Workers Union (PUWU) that the privatisation of the state power distributor will result in, among others, high tariffs due to the expected profit margin of the private investor.

PUWU last week demonstrated and suspended services for hours over the concession move by government but a statement released by MiDA on Tuesday August 30 said: “It is also not the case, as alleged in the press statement of PUWU that high tariffs will result from the concession agreement. On the contrary, improved performance and reduction in the current losses of ECG should facilitate progressive lowering of tariffs.”

According to MiDA, the concession agreement available for ECG was done with integrity, transparency, and good faith as all stakeholders were consulted.

MiDA added that the fears of the workers are unfounded as the concession move will strengthen the balance sheet of ECG and make it productive.

“The ECG financial and operational turnarounds project also recognises the need for significant investment in the power distribution infrastructure and the operational systems of the ECG. It is in response to that need that over US$350 MILLION out of the US$498.2 million for the Compact programme has been allocated to the ECG,” it stated.

Source: http://www.classfmonline.com/1.9790467

Profile photo of Editor
Follow Us

Editor

Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
Profile photo of Editor
Follow Us

Latest posts by Editor (see all)

Share this article

Leave a reply

Personality of the Month
  • Prof. Thomas Mba Akabzaa Chief Director of Ministry of Petroleum          …
Follow Us Online
Join the Discussions

Summary: Revenue mobilization from the oil sector for Agricultural production in Ghana, a myth or reality?

Agriculture, once considered the backbone of Ghana’s economy recorded a reduction of its contribution to GDP from 45% in 1992…

Responses Add your response


About Us
Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
Events Calendar
<< Aug 2017 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3
Twitter Activity Stream
 

Partners We are proud to be associated with:

Skip to toolbar