Energy Ministry adopts measures to reduce electricity generation costs - Gyan-Mensah says
The Ministry is doing this by ensuring that additional power is procured at the lowest cost and renegotiating existing Power Purchase Agreements (PPAs) to lower generation tariffs.
The Energy Ministry in Ghana is implementing measures to reduce electricity generation costs, according to Deputy Minister Richard Gyan-Mensah. The Ministry aims to achieve this by procuring additional power at the lowest cost and renegotiating existing Power Purchase Agreements (PPAs) to lower generation tariffs. Gyan-Mensah, speaking in Parliament, explained that quarterly tariff adjustments are influenced by four factors: the exchange rate, inflation, the Weighted Average Cost of Gas (WACOG), and the hydro-thermal generation mix.
The Lifeline Tariff, designed to support poor and low-income consumers, is also part of these efforts. Gyan-Mensah assured the House that the Ministry will continue working with the Public Utilities Regulatory Commission (PURC) to maintain affordable electricity for vulnerable consumers while ensuring the sustainability of the power sector.
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