{"id":438238,"date":"2017-11-17T14:24:39","date_gmt":"2017-11-17T14:24:39","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/11\/17\/govt-cancels-11-power-purchasing-agreements-at-402-39m\/"},"modified":"2017-11-17T14:24:39","modified_gmt":"2017-11-17T14:24:39","slug":"govt-cancels-11-power-purchasing-agreements-at-402-39m","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/11\/17\/govt-cancels-11-power-purchasing-agreements-at-402-39m\/","title":{"rendered":"Gov\u2019t cancels 11 power purchasing agreements at $402.39m"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2017\/11\/Power-Purchase-Agreement-475x267.jpg\" \/><\/p>\n<div>\n<aside class=\"mashsb-container mashsb-main mashsb-stretched\"> <\/aside>\n<p>The Government has announced the cancellation of eleven (11) Power Purchase Agreements (PPAs) with a combined capacity of 2,808MW that in entered into with some power generating firms through the Electricity Company of Ghana (ECG) Limited.<\/p>\n<p>This follows a recommendation that was made by a Committee which was set up the Energy Commission to review all PPAs signed by the ECG Limited for conventional thermal power projects.<\/p>\n<p>The estimated cost for the termination of the eleven Power Purchase Agreements is US$402.39.<\/p>\n<p>Addressing Parliament over the issue, Friday, Energy Minister, Boakye Agyarko, said \u201cthe review noted that the projected capacity additions from the PPAs were far in excess of the required additions inclusive of a 20% system reserve margin from 2018 to 2030 and would result in the payment of capacity charges for the undispatched plants.\u201d<\/p>\n<p>According to Mr. Agyarko, the review also recommended four (4) PPAs with a combined capacity of 1,810MW be deferred to 2018 \u2013 2025.<\/p>\n<p>Additionally, three (3) PPAs with a combined capacity of 1,150MW be deferred beyond 2025.<\/p>\n<p>Mr. Agyarko was responding to a question posed by the Ranking Member of the Mines &amp; Energy Committee and MP for Damongo, Adam Mutawakilu.<\/p>\n<p>The Damongo lawmaker had asked the Energy Minister whether the Ministry has reviewed any power purchase agreements in force and if so, whether there is any cost saving elements pursuant to the review.<\/p>\n<p>Speaking on the cost saving element over the termination of the 11 PPAs, Mr. Agyarko said, if the agreement was allowed to stay as it is, Ghana would have incurred an annual average capacity cost of US$586million or a cumulative cost of US$7.619billion over twelve (12) years (2018 \u2013 2030).<\/p>\n<p>\u201cThis yields an estimated saving of US$7.217billion over the 13 year period\u201d, he noted.<\/p>\n<\/p><\/div>\n<p><script>(function(d, s, id) {var js, fjs = d.getElementsByTagName(s)[0];if (d.getElementById(id)) return;js = d.createElement(s); js.id = id;js.src = \"http:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&appId=1136575713042949&version=v2.3\";fjs.parentNode.insertBefore(js, fjs);}(document, 'script', 'facebook-jssdk'));<\/script><script>(function(d, s, id) {var js, fjs = d.getElementsByTagName(s)[0];if (d.getElementById(id)) return;js = d.createElement(s); js.id = id;js.src = \"http:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&version=v2.6\";fjs.parentNode.insertBefore(js, fjs);}(document, 'script', 'facebook-jssdk'));<\/script><\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Government has announced the cancellation of eleven (11) Power Purchase Agreements (PPAs) with a combined capacity of 2,808MW that in entered into with some power generating firms through the Electricity Company of Ghana (ECG) Limited. This follows a recommendation that was made by a Committee which was set up the Energy Commission to review [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":438239,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-438238","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gov\u2019t cancels 11 power purchasing agreements at $402.39m - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2017\/11\/17\/govt-cancels-11-power-purchasing-agreements-at-402-39m\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Gov\u2019t cancels 11 power purchasing agreements at $402.39m - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"The Government has announced the cancellation of eleven (11) Power Purchase Agreements (PPAs) with a combined capacity of 2,808MW that in entered into with some power generating firms through the Electricity Company of Ghana (ECG) Limited. This follows a recommendation that was made by a Committee which was set up the Energy Commission to review [&hellip;]\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/11\\\/17\\\/govt-cancels-11-power-purchasing-agreements-at-402-39m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/11\\\/17\\\/govt-cancels-11-power-purchasing-agreements-at-402-39m\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Gov\u2019t cancels 11 power purchasing agreements at $402.39m\",\"datePublished\":\"2017-11-17T14:24:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/11\\\/17\\\/govt-cancels-11-power-purchasing-agreements-at-402-39m\\\/\"},\"wordCount\":288,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/11\\\/17\\\/govt-cancels-11-power-purchasing-agreements-at-402-39m\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/11\\\/17\\\/govt-cancels-11-power-purchasing-agreements-at-402-39m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/11\\\/17\\\/govt-cancels-11-power-purchasing-agreements-at-402-39m\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/11\\\/17\\\/govt-cancels-11-power-purchasing-agreements-at-402-39m\\\/\",\"name\":\"Gov\u2019t cancels 11 power purchasing agreements at $402.39m - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/11\\\/17\\\/govt-cancels-11-power-purchasing-agreements-at-402-39m\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/11\\\/17\\\/govt-cancels-11-power-purchasing-agreements-at-402-39m\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2017-11-17T14:24:39+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/11\\\/17\\\/govt-cancels-11-power-purchasing-agreements-at-402-39m\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/11\\\/17\\\/govt-cancels-11-power-purchasing-agreements-at-402-39m\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Gov\u2019t cancels 11 power purchasing agreements at $402.39m - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2017\/11\/17\/govt-cancels-11-power-purchasing-agreements-at-402-39m\/","twitter_card":"summary_large_image","twitter_title":"Gov\u2019t cancels 11 power purchasing agreements at $402.39m - Ghanamma.com","twitter_description":"The Government has announced the cancellation of eleven (11) Power Purchase Agreements (PPAs) with a combined capacity of 2,808MW that in entered into with some power generating firms through the Electricity Company of Ghana (ECG) Limited. 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