President John Dramani Mahama has dismissed rumours that the government plans to privatise the Electricity Company of Ghana (ECG).
According to him, the fact that there were plans to bring private sector participation into the company did not mean the state intended to privatise the company.
“ECG is hundred per cent government entity and will remain hundred per cent government entity,” the President assured.
Speaking at the inauguration of the Enclave Power Company (EPC) in Tema yesterday, President Mahama stated that as the government rolled out its energy revival programme, private sector participation would be sought.
He said the inauguration of the EPC fell in line with the government’s objective of providing power for all to accelerate national development.
He said the promotion of private sector participation in power generation was resulting in efficiency in the system.
President Mahama repeated his concern about the difficulties the power supply challenges had brought to industry and the public, adding that, government was making progress in addressing the power crisis facing the country.
Over the last few weeks, he said, 200 megawatts had been fed into the system, adding that the process would continue until the problem was eventually resolved by the close of the year as promised by the Minister of Power.
President Mahama reiterated the determination of the government to close the chapter on erratic power supply once and for all.
The EPC is the first privately-owned Ghanaian company that purchases electricity for sale to its customers, mostly within the Free Zones Enclave in Tema.
Currently, the company purchases power from the Volta River Authority (VRA) but in the long-term it intends to explore alternative supplies from Independent Power Producers (IPPs).
The Minister of Power, Dr Kwabena Donkor, indicated that the EPC epitomised what indigenous people could do given the needed support.
He stated that the power sector was opened for investors, adding that notwithstanding the temporary challenges in the sector, it was the fastest growing sector of the economy.
The Chief Executive of EPC, Mr Kojo Aduhene, said the company was becoming a major player in the power market and it planned to significantly increase its share of the distribution market over the next five years.
Source: Graphic Online