Browsing: Mining & Energy

Though PURC is still considering a number of things, the utility firms will not get the huge margins they had proposed

Seventy communities across nine Island districts through mini-grids, 505 communities in 11 districts through standalone solar photovoltaic (PV) systems in the country.

According to the PURC, the tariffs could be increased or decreased. The Director of Research at PURC, Dr Eric Kofi Obutey, has said, the Commission is engaging all the stakeholders to arrive at tariffs that will serve the need of Ghanaians as well as the service providers. The stakeholders as the Parliamentary Select Committee on Mines and Energy; Association of Ghana Industries (AGI), and Ghana Employers Association among others.

This is the first time that an Italian representative has been honoured in the Business Leadership category. On the same evening, Italian Prime Minister Mario Draghi received the Distinguished International Leadership Award.

The Electricity Company of Ghana and Ghana Water Company Limited have proposed an astronomic increase in tariffs for the year 2022. ECG is demanding a 148% increase in electricity tariff, whilst the Ghana Water Company Limited wants 334%.

Sadly, these contrived and concocted narratives led by no less a person than the Vice President, Dr. Mahamadu Bawumia against the person of former President Mahama was therefore as needless as they are mischievous and propaganda-laden.

Ghana would have lost a colossal US$565 million, if the deal had gone through in the form and shape it was presented by the GNPC last year.

The effects of the transition, ranging from revenue losses, under investment in hydrocarbons and the huge cost of adjustment, will only deepen the already existing schism and further ensure that Africa is left behind the rest of the world.

The caution comes at the time, the global economic frontiers are committing to the Energy Transition (ET) agenda strongly as majority of the economies set to meet net zero carbonisation by 2040.

To date, however, wealthy countries have under-promised and underdelivered. They have yet to reduce emissions to the extent necessary to avoid warming beyond 2°C, let alone 1.5°C. And, as President Akufo-Addo also mentioned, they have failed to honor their 2010 promise of USD100 billion per year to support developing countries’ responses to climate change. Tragically, the consequences will be felt by all for decades to come.