Business News of Thursday, 16 September 2021
Energy Minister, Dr. Matthew Opoku Prempeh says the Government has demonstrated its commitment and support for industries with respect to providing and maintaining stable and cost effective energy through policies and strategies that promote the industrialisation drive of the Akufo-Addo government.
Speaking at the inaugural Presidential Business Summit to dialogue on the role of the private sector in Ghana’s Post COVID economic recovery, Dr. Prempeh said the pandemic has had far-reaching effects on the normal way of life and businesses, therefore, forums like this provide us with an avenue to share lessons learnt.
Touching on energy pricing, availability, access and reliability, he indicated that these are key to enhancing competitiveness for businesses and, therefore, supporting strategic industries is critical for Ghana to achieve its industrial development goals.
The Manhyia North legislator also reminded the gathering that in the last major tariff review; PURC eliminated the Maximum Demand Charge on industrial customers (Special Load Tariff-SLT Customers) with the goal of enhancing the competitiveness of Ghanaian industries.
The Ministry’s policy he said places emphasis on renewables and alternative energy as sources of power to complement conventional power. According to him, it is the government’s policy to scale-up renewable energy penetration by 10% by 2030.
“Going forward, we are encouraging increased private sector investment in utility scale solar (solar-hydro hybrid) and wind energy projects, as well as accelerate the development of mini-grid solutions in off-grid and island communities for lighting, irrigation and other economic activities” he said.