Business News of Thursday, 26 September 2019
Source: laudbusiness.com
Managing Director of Electricity Company of Ghana, Ing. Samuel Boakye-Appiah
The Managing Director of the Electricity Company of Ghana (ECG) Ing. Samuel Boakye-Appiah, has said that the ECG has over the past fifty years provided quality, safe and reliable power distribution for economic development of Ghana.
Ing. Boakye-Appiah further stated that the ECG has also had a fruitful partnership with other players in the energy sector including the Volta River Authority (VRA) and the Ghana Grid Company Limited (GRIDCo) and NEDCo.
He was speaking during the opening ceremony of the 2019 AFRICON hosted by the Institute of Electrical and Electronics Engineers (IEEE), the world’s largest professional association dedicated to advancing engineering and technology for the benefit of humanity on Wednesday, September 25, 2019 at the Ghana Institute of Management and Public Administration (GIMPA).
The Ghana section of the IEEE is hosting this year’s 2019 3-day conference on the theme: powering Africa ‘s sustainable energy for all agenda: the role of ICT and engineering.”
He said: “Over the past 50 years, ECG has provided quality, safe and reliable electricity distribution services to support the economic growth and development of Ghana. Currently, with over 85% electricity access rate in Ghana, ECG and her sister utilities, Volta River Authority, GRIDCo and NEDCOc can be proud of our collective achievements. Unfortunately, the same cannot be said of electricity penetration rate in sub-Saharan Africa.
“According to a recent Africa Energy Outlook report published by international Energy Agency, ‘More than 620 million people live without access to electricity in Africa and those who do have access to modern energy face very high prices for a supply that is both insufficient and unreliable’.
“The same report adds that, ‘Overall, the energy sector of sub-Saharan Africa is not yet able to meet the needs and aspirations of its citizens’.”
He added: “Africa is rising! Yes But Africa can only rise higher and faster on the back of sustainable energy as succinctly and eloquently captured by the theme for this conference. For sustainability in the energy sector to be sustainable, it must satisfy the following components, namely; political acceptability, economic development, social equity and environment protection and affordability.
“Ensuring sustainability in the energy value chain requires huge capital investments to drive scientific research and technological innovations. With most African governments confronted with competing demands infrastructure projects and social intervention programmes, they are constrained.
“Therefore, the onus of providing the needed capital investments for the development of sustainable energy resources to power Africa’s development is in the hands of private sector.”
He further stated : “Established in February 1967, the Electricity Company of Ghana (ECG) was the public utilities company responsible for the distribution of electricity in the southern part of Ghana.
“As a result of the Compact II Programme under the auspices of the Millennium Challenge Corporation (MCC), a privet sector participation (PSP) was introduced into the operations of ECG as a concessionaire.
“On the 1st of March 2019, ECG transferred the electricity distribution to Messrs Power Distribution Services (PDS), the concessionaire. PDS is now responsible for managing, operating and investing in the networks.
“Therefore ECG has leased its network assets to PDS and retained ownership of the network assets. I want to reiterate that ECG has not been sold.
“Owing to some transactional challenges the Energy Commission has appointed ECG as the interim operator of electricity retail sales license. The relevant authorities will give direction in due course.
Participants from over 16 countries – Finland, Sweden, Senegal, Slovakia Togo, United States, Germany, Ghana, Botswana, Ethiopia, Lesotho, Malaysia, Netherlands, Nigeria, Benin, and South Africa – are attending the conference.
