This will help meet the government’s objective of making Ghana very competitive within the sub-region with regards to pricing of electricity for consumers.
In a speech to inaugurate the Board of GRIDCo, Energy Minister, Boakye Agyarko stressed,
“One main task which is quite urgent is to see the establishment of the Wholesale Electricity Market which in my opinion will drive down tariffs and give comfort to customers and make us competitive in the sub-region through the West African Power (WAPP) system.”
According to Mr. Agyarko, GRIDCo also has the potential for additional revenue through leasing of its excess fibre optic network and maintenance agreements with the mining companies for the maintenance of their capacitors, transformers and other switchyard equipment.
Ghana’s relative high cost of power has been cited as expensive which drives potential investors away.
Attempts to review the price downwards have included a revision of all Independent power purchase agreements as well as the capping of power produced by such IPPs at 10 cents per kilowatt hour.
The GRIDCo board is chaired by Mr. Kabral Blay-Amihere with members including; Mr. Jonathan Amoako-Baah Acting CEO of GRIDCo, Mr. Kenneth KwaminaThompson, Honorable Naana Eyiah as well as Nana Henry Kofi Nti.
Other members are; Madam Dzifa Amegashie, Nicholas Kwabena Smart-Yeboah, Air Vice Marshall Is Kadri and Mr. Frederick Fredua Antoh.