The Government of Ghana says its ongoing energy sector reforms are designed to strengthen the financial sustainability of the electricity industry, lower operational costs, and prevent the recurrence of huge debts owed to Independent Power Producers (IPPs).
According to Deputy Minister for Energy, Richard Gyan-Mensah, the sector has made significant progress despite inheriting major challenges, including mounting IPP debts, financial constraints, and operational inefficiencies.
Speaking at the 60th Annual Meeting of the Association of Power Utilities of Africa, Mr Gyan-Mensah revealed that the government’s successful renegotiation of several Independent Power Producer (IPP) contracts has already delivered savings exceeding $240 million.
He added that the government is implementing additional energy sector reforms aimed at reducing electricity generation costs, improving efficiency, and ensuring the long-term financial stability of Ghana’s power sector.
The Deputy Minister stressed that these measures form part of the government’s broader strategy to build a more resilient and sustainable energy industry while protecting consumers and preventing the accumulation of future liabilities in the electricity sector.
Source: newsthemegh.com