The Energy Minister, Dr. Matthew Opoku Prempeh says government is working assiduously to ensure that the productive sectors of the Ghanaian economy are not overburdened with high electricity tariffs. This he says is key in the realization of the industrialisation agenda of the Akufo-Addo administration.
Dr. Prempeh made this known when he inaugurated the newly constituted 11-member Electricity Market Oversight Panel on Thursday morning at the Ministry of Energy.
He said the new panel has a responsibility through the synergy with key stakeholders in the power industry to also ensure that consumers and for that matter Ghanaians are made to pay rational tariffs.
“You would among others, seek to monitor the general performance of electricity transmission, ensure smooth and efficient operation of the wholesale electricity market, monitor pre-dispatch schedules and ensure long-term optimisation of hydro-electricity supply sources in the country” he noted.
“This also includes rallying around the stakeholders of the electricity value chain for a seamless service delivery” he added
On dispute resolution, the Minister said the panel is mandated to resolve disputes referred to it by market participants in respect of transactions in the Wholesale Electricity Market.
He urged them to take up this function seriously because “As sector minister, I will not entertain bickering, fighting, animosity and acrimony. These are only counter-productive to our efforts” he said
The Manhyia South legislator said as part of efforts to improve the governance and operations of the electricity sector, the first NPP administration under President Kufuor ensured that a bill was passed which provided for the implementation of a Wholesale Electricity Market to facilitate wholesale electricity trading. This he said was to allow for private sector investment and competition in the procurement of electricity in Ghana. “The NPP has always believed in the private sector as the engine of growth and hence participation in this critical sector of the economy” he posited
On his part Chairman of the panel, Mr. Ebo Quagraine said the panel will ensure that they carry out their functions in accordance with law.
The Electricity Regulations, 2008, L.I. 1937 established the Ghana Wholesale Electricity Market (GWEM) to facilitate wholesale trading of electricity and the provision of ancillary services in the National Interconnected Transmission System (NITS).
The L.I. 1937 further established the Electricity Market Oversight Panel (EMOP) to supervise the administration and operation of the GWEM.