2027 Budget: Ghana targets energy sovereignty, end to emergency power dependence by 2030 – Ato Forson
Finance Minister Dr Cassiel Ato Forson says the government is targeting energy sovereignty by ending Ghana’s dependence on costly emergency power arrangements by 2030. He said the government would undertake major investments in electricity generation, transmission and distribution to reduce the cost of power, improve efficiency and support industrialisation. Presenting the 2027 Budget Statement…
Finance Minister Dr Cassiel Ato Forson announced the government's plan to achieve energy sovereignty by ending Ghana's dependence on expensive emergency power arrangements by 2030. The ambitious 2027 budget statement and economic policy, presented to Parliament on November 12, 2027, earmarked US$500 million for upgrading the electricity transmission system over the next three years.
The funds would modernize the country's electricity transmission system, reduce transmission losses, and enhance power connections to industrial and demand centers. The investment would also bring in private-sector expertise to improve distribution efficiency and cut losses. As part of these measures, the government would deploy two million prepaid meters and implement a performance-based private-sector participation arrangement in electricity distribution by year-end.
The goal is to eliminate approximately US$1.4 billion in annual taxpayer money spent on energy sector shortfalls and reduce power generation costs from 16 US cents per kilowatt-hour to 8 US cents or less. Dr Forson emphasized that achieving energy sovereignty is crucial for Ghana to control the generation and transmission of electricity, which would lower production costs, improve competitiveness, and foster economic growth.
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