{"id":711635,"date":"2019-09-27T14:33:01","date_gmt":"2019-09-27T14:33:01","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/09\/27\/meralco-considering-exit\/"},"modified":"2019-09-27T14:33:01","modified_gmt":"2019-09-27T14:33:01","slug":"meralco-considering-exit","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/09\/27\/meralco-considering-exit\/","title":{"rendered":"Meralco Considering Exit &#8211;"},"content":{"rendered":"<p><\/p>\n<div>\n<p>MERALCO, THE\u00a0Philippino company<br \/>\nthat is part of the companies in charge of power distribution in Ghana,\u00a0is<br \/>\nplanning to pull out its investment from the country\u2019s electricity distribution<br \/>\nutility.<\/p>\n<p>A Manila-based news portal,<em><br \/>\nThe Philippine Star,<\/em>\u00a0on Friday said a top official of Meralco said the<br \/>\ndecision to pull out from Ghana would happen unless the political situation<br \/>\nin\u00a0the country improves.<\/p>\n<p>\u201cWe\u2019re still waiting for<br \/>\ndevelopments. It\u2019s a Ghana government issue,\u201d Meralco President and CEO, Ray<br \/>\nEspinosa is\u00a0quoted\u00a0by the news portal.<\/p>\n<p>According to the news website,<br \/>\nEspinosa fears that the Meralco deal is exposed to political risk following the<br \/>\nsuspension of concessionaire agreement between the Government of Ghana and<br \/>\nPower Distribution Services (PDS).<\/p>\n<p>\u201cThe terms are good, but if we<br \/>\nwill be exposed to these types of uncertainties, we might as well pull out and<br \/>\njust devote our attention to the country. And even in Asia, it\u2019s more stable.<br \/>\nMaybe we don\u2019t have the DNA for that kind of risk in Africa yet,\u201d Espinosa is<br \/>\nquoted by\u00a0<em>The Philippine Star.<\/em><\/p>\n<p>The Government of Ghana in July<br \/>\n\u2013 suspended the concession for the operation and maintenance of the assets and<br \/>\nfacilities of the Electricity Company of Ghana (ECG) awarded to PDS.<\/p>\n<p>PDS is a consortium between<br \/>\nMeralco through Meridian Power Ventures Ltd. (30 per cent), Angola-based firm<br \/>\nAEnergia SA (19 per cent), and three Ghanaian firms namely TG Energy Solution<br \/>\nGhana (18 per cent); GTS Engineering Ghana Ltd. (10 per cent); TBK Ghana Ltd.<br \/>\n(10 per cent).<\/p>\n<p>The suspension order was due to<br \/>\nalleged material breaches in the provision of the demand guarantees by PDS,<br \/>\nwhich were key prerequisites for the turnover of the assets and facilities.<\/p>\n<p>But a week after the<br \/>\nsuspension, ECG and PDS agreed on an interim arrangement where the Meralco-led<br \/>\nconsortium would still continue activities related to the retail of electricity<br \/>\nto ensure continued power supply and service to consumers.<\/p>\n<p>These activities include meter<br \/>\nreading, billing and distribution of bills, bill reconciliation, revenue<br \/>\ncollection and new service connections.<\/p>\n<p>It will also still be<br \/>\nresponsible for disconnections and reconnections, faulty meter replacements,<br \/>\nnetwork faults and repairs, complaints and fault reporting to the call centres<br \/>\nand any other related service.<\/p>\n<p>The Meralco-led PDS signed the<br \/>\nconcession agreement with ECG on March 1, a year after Millennium Development<br \/>\nAuthority (MiDA) chose Meralco as the preferred bidder for private sector<br \/>\nparticipation in ECG and the Parliament of Ghana approved the 20-year-concession<br \/>\nagreement.<\/p>\n<p>Under the agreement, ECG\u2019s<br \/>\nassets would be leased to the PDS for 20 years, while the ECG would become an<br \/>\nasset holding company.<\/p>\n<p>Meralco said the PDS Consortium<br \/>\nhad planned to invest over $580 million for capital expenditures to strengthen<br \/>\nthe governance, management and operations of the ECG and improve the delivery<br \/>\nof power to end-users as well as support Ghana\u2019s socio-economic growth.<\/p>\n<p>After the end of the<br \/>\nconcession, all assets would be transferred back to ECG, it said. <\/p>\n<p>\u2013 <em><strong>Myjoyonline<\/strong><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>MERALCO, THE\u00a0Philippino company that is part of the companies in charge of power distribution in Ghana,\u00a0is planning to pull out its investment from the country\u2019s electricity distribution utility. A Manila-based news portal, The Philippine Star,\u00a0on Friday said a top official of Meralco said the decision to pull out from Ghana would happen unless the political [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":711636,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-711635","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>Meralco Considering Exit - 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\/2019\/09\/27\/meralco-considering-exit\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Meralco Considering Exit - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"MERALCO, THE\u00a0Philippino company that is part of the companies in charge of power distribution in Ghana,\u00a0is planning to pull out its investment from the country\u2019s electricity distribution utility. A Manila-based news portal, The Philippine Star,\u00a0on Friday said a top official of Meralco said the decision to pull out from Ghana would happen unless the political [&hellip;]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/09\/MERALCO.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/27\\\/meralco-considering-exit\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/27\\\/meralco-considering-exit\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"headline\":\"Meralco Considering Exit &#8211;\",\"datePublished\":\"2019-09-27T14:33:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/27\\\/meralco-considering-exit\\\/\"},\"wordCount\":487,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/27\\\/meralco-considering-exit\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/09\\\/MERALCO.jpg\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/27\\\/meralco-considering-exit\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/27\\\/meralco-considering-exit\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/27\\\/meralco-considering-exit\\\/\",\"name\":\"Meralco Considering Exit - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/27\\\/meralco-considering-exit\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/27\\\/meralco-considering-exit\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/09\\\/MERALCO.jpg\",\"datePublished\":\"2019-09-27T14:33:01+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/27\\\/meralco-considering-exit\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/27\\\/meralco-considering-exit\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/09\\\/MERALCO.jpg\",\"contentUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/09\\\/MERALCO.jpg\",\"width\":758,\"height\":426},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Meralco Considering Exit - 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\/2019\/09\/27\/meralco-considering-exit\/","twitter_card":"summary_large_image","twitter_title":"Meralco Considering Exit - Ghanamma.com","twitter_description":"MERALCO, THE\u00a0Philippino company that is part of the companies in charge of power distribution in Ghana,\u00a0is planning to pull out its investment from the country\u2019s electricity distribution utility. A Manila-based news portal, The Philippine Star,\u00a0on Friday said a top official of Meralco said the decision to pull out from Ghana would happen unless the political [&hellip;]","twitter_image":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/09\/MERALCO.jpg","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Written by":"Ghana News","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2019\/09\/27\/meralco-considering-exit\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2019\/09\/27\/meralco-considering-exit\/"},"author":{"name":"Ghana News","@id":"https:\/\/www.ghanamma.com\/2019\/#\/schema\/person\/53d06a757a4242f113d200e3c290c036"},"headline":"Meralco Considering Exit &#8211;","datePublished":"2019-09-27T14:33:01+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2019\/09\/27\/meralco-considering-exit\/"},"wordCount":487,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2019\/09\/27\/meralco-considering-exit\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/09\/MERALCO.jpg","articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2019\/09\/27\/meralco-considering-exit\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2019\/09\/27\/meralco-considering-exit\/","url":"https:\/\/www.ghanamma.com\/2019\/09\/27\/meralco-considering-exit\/","name":"Meralco Considering Exit - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2019\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2019\/09\/27\/meralco-considering-exit\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2019\/09\/27\/meralco-considering-exit\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/09\/MERALCO.jpg","datePublished":"2019-09-27T14:33:01+00:00","author":{"@id":"https:\/\/www.ghanamma.com\/2019\/#\/schema\/person\/53d06a757a4242f113d200e3c290c036"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2019\/09\/27\/meralco-considering-exit\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2019\/09\/27\/meralco-considering-exit\/#primaryimage","url":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/09\/MERALCO.jpg","contentUrl":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/09\/MERALCO.jpg","width":758,"height":426},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2019\/#website","url":"https:\/\/www.ghanamma.com\/2019\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2019\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.ghanamma.com\/2019\/#\/schema\/person\/53d06a757a4242f113d200e3c290c036","name":"Ghana News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","caption":"Ghana News"}}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/posts\/711635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/comments?post=711635"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/posts\/711635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/media\/711636"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/media?parent=711635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/categories?post=711635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/tags?post=711635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}