{"id":168080,"date":"2024-04-03T18:10:54","date_gmt":"2024-04-03T18:10:54","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/04\/03\/current-energy-sector-stability-due-to-past-investments\/"},"modified":"2024-04-03T18:10:54","modified_gmt":"2024-04-03T18:10:54","slug":"current-energy-sector-stability-due-to-past-investments","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/04\/03\/current-energy-sector-stability-due-to-past-investments\/","title":{"rendered":"Current energy sector stability due to past investments"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Institute of Economic Affairs (IEA) has attributed the current stability in Ghana\u2019s energy sector to investments made by previous administrations.<\/p>\n<p>Following President Akufo-Addo\u2019s State of the Nation Address (SONA) to Parliament on Tuesday, February 27, Dr. John Kwakye, IEA Ghana\u2019s Director of Research, emphasized the necessity for further action to address ongoing energy sector challenges.<\/p>\n<p>While President Akufo-Addo asserted consistent power stability during his seven-year term, Dr. Kwakye credited this stability to past investments and contractual agreements made by previous administrations.<\/p>\n<p>Dr. Kwakye refrained from engaging in debates over who precisely resolved the \u201cDUMSOR\u201d menace, acknowledging that power stability over the past seven years surpassed that of previous years.<\/p>\n<p>\u201cThe President mentioned his government\u2019s success in ending the \u201cDUMSOR\u201d menace and managing \u201cto keep the lights on in the last seven years.\u201d We are not going to get into the unproductive debate as to who ended \u201cDUMSOR.<\/p>\n<p>\u201cThe fact that power has been much more stable in the last seven years than the previous four years, however, is evidently clear. It is also a fact that the subsequent stability benefited from previous investments in the power sector. What we also know is that the stable power has been achieved at considerable budgetary cost some of which emanated from previous contractual agreements,\u201d he said.<\/p>\n<p>While acknowledging the government\u2019s achievements in eradicating power outages, Dr. Kwakye underscored the importance of comprehensively addressing sporadic power issues known as \u2018Dumsor.\u2019 He recommended tackling legacy debts and enhancing the efficiency of the Electricity Company of Ghana (ECG) as part of the solution.<\/p>\n<p>\u201cThe solution should include how to deal with the legacy debts, improving the efficiency of the Electricity Company of Ghana (ECG), including by reducing the industry-high distribution losses, improving bill collections, stemming illegal connections and moving to legitimate cost-recovery tariffs.\u201d<\/p>\n<p>Dr. Kwakye further proposed hiring expert managers to address the challenges faced by the struggling power company, emphasizing the need for efficient management under state ownership.<\/p>\n<p><em><strong>\u2014\u2013<\/strong><\/em><\/p>\n<p><em><strong>Explore the world of impactful news with CitiNewsroom on WhatsApp!<\/strong><\/em><\/p>\n<p><em><strong>Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU: https:\/\/whatsapp.com\/channel\/0029VaCYzPRAYlUPudDDe53x<\/strong><\/em><\/p>\n<p><em><strong>No spams, just the stories that truly matter! #StayInformed #CitiNewsroom #CNRDigital<\/strong><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Institute of Economic Affairs (IEA) has attributed the current stability in Ghana\u2019s energy sector to investments made by previous administrations. Following President Akufo-Addo\u2019s State of the Nation Address (SONA) to Parliament on Tuesday, February 27, Dr. John Kwakye, IEA Ghana\u2019s Director of Research, emphasized the necessity for further action to address ongoing energy sector [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":91827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-168080","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Current energy sector stability due to past investments - 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\/2024\/04\/03\/current-energy-sector-stability-due-to-past-investments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Current energy sector stability due to past investments - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Institute of Economic Affairs (IEA) has attributed the current stability in Ghana\u2019s energy sector to investments made by previous administrations. 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