Tag: Gridco
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ECG rolls out tariff reduction from today
From today, April 1, 2018, consumers should be paying less for the electricity they consume as the ECG begins the implementation of the reduction in tariffs announced in March this year. The Public Utilities Regulatory Commission (PURC) on March 5, 2018, announced a reduction in electricity tariffs of between 17 and 30 percent for residential…
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Gov’t reaffirms reduced tariffs despite high proposals
Government is optimistic of a reduction in the cost of electricity for the rest of this year. The optimism comes despite proposals for an increase in utility tariffs by service providers. This also follows a stakeholders’ forum ahead of the announcement of new tariffs by the end of this month. The average 14 percent reduction…
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GRIDCo to lead low power costs drive
Perhaps a key mandate of the new board of the Ghana Grid Company Limited (GRIDCo) will be to quicken the move to reduce the cost of electricity in Ghana. 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…
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William Amuna exits as GRIDCo CEO
The CEO of the Ghana Grid Company (GRIDCo), Ing. William Amuna has stepped down as the boss of the power generation company. It follows the expiration of his four year term as the head of the institution. Engineer William Amuna assumed the mandate in September 2013. Prior to his appointment as Chief Executive, Ing. William…
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Govt hastens to clear $ 2.4bn energy debt
Government should by the end of this month commence the repayment of all debts owed in the energy sector and improve operations in the sector. This will follow the successful issue of the 15 year energy bond to raise 10 billion cedis from its investors. The Finance Minister, Ken Ofori Atta who disclosed this to…
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More banks risk collapse over high power cost – Economist
Ghana’s financial sector should brace itself for more banks collapse should the high cost of power continue unresolved. This is the assertion of Economist, Dr. Charles Ackah. Dr. Ackah who is also a Senior Research Fellow at the Institute of Statistical, Social and Economic Research (ISSER) argues that the high cost of power in Ghana…
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Gov’t woos foreign investors for its $ 2.4 bn energy sector bond
Foreign investors have shown interest to buy government’s 2.4 billion dollar energy sector bond. Citi Business News understands this is the response following an international road show by the transaction managers for the energy sector bond. The Deputy Energy Minister in charge of Finance, Joseph Cudjoe who disclosed this to Citi Business News explained that…
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Cleaning Ghana’s power sector : AfDB pledges support
President of the African Development Bank, Mr. Akinwumi Adesina has pledged of his outfit’s commitment to provide government with significant support to clear its energy sector debt. He argues that the perennial challenges that have confronted the country’s power sector require robust measures to address them permanently. Mr. Adesina made the remarks when he paid…
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Power to be restored in three hours’ time – GRIDCo
The Ghana Grid Company (GRIDCo) is assuring consumers of electricity that power will be restored at least within the next three hours. Power was cut to most parts of the country on Wednesday night and it is yet to be restored in some of the affected areas. But the CEO of GRIDCo, Engineer William Amuna…
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Govt to issue 15 yr bond to clear $ 2.4bn energy debts
Government has announced plans to issue a 15 year bond to settle all outstanding debts in the energy sector. The move is also aimed at improving the financial strength of the State Owned Enterprises (SoEs) in the energy sector and make them competitive. Vice President Dr. Mahamudu Bawumia disclosed this when he addressed a session…