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    Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

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    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

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ECG justifies utility price hikes proposal

bycitibusinessnews
September 25, 2015
in Business, Local Economy, Top Stories
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The Electricity Company of Ghana (ECG) has defended its proposal for a 100% increase in tariffs.

[contextly_sidebar id=”EO7te9fPlYPpJ5yva27WObCickhlK1tv”] This follows public uproar against the proposed tariff increments tabled by all the utility companies including the ECG.

The Electricity Company of Ghana wants the current tariff of 16pesewas per unit to be increased to 35pesewas while the Volta River Authority (VRA) has tabled an increase from 15pesewas to 30pesewas per unit.

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The Ministry of Power has hinted it might back utility companies on the planned major tariff increments.

Minister of power Dr. kwabena Donkor said government was ready to take the tough decisions.

“We at the helm of affairs in the power sector have recognized that underlying the historic under investment in generation , transmission and distribution has been the unattractive tariff regime” he lamented.

According to him Ghanaians have paid lower tariffs as compared to what is prevalent in the sub region in the past because of the benefit of “Legacy Hydro, but “unfortunately as demand expand by about 12% per annum ,the role of legacy hydro diminishes and tariffs must now reflect the actual cost of service ” The Akosombo hydro power plants would only constitute 38% of VRA’s generation mix by December this year which will constitute less than 30% of the country’s generation mix.

“Let me assure investors in the sector both local and foreign that the tariff question is being address and that the Ghanaian state will not shy away from taking the tough decisions that need to be taken”, Dr. Donkor stressed

Acting managing director of ECG Robert Dwamena justifying the need for the tariff increment said’ we are working with PURC to get the necessary increases, we have submitted our proposal to them, but to have  the confidence in the system we are ensuring we have a robust system so that when the load shedding exercise is over ECG will have a robust system’. He said.

–

By:  Rabiu Alhassan/citifmonline.com/Ghana

 

 

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