24-Hour Economy: Mahama pledges reliable power to sustain policy

John Dramani Mahama, the flagbearer of the National Democratic Congress (NDC), has vowed to establish a dependable and efficient power system to support his proposed 24-hour economy policy if he is elected president.

This policy aims to create a business environment where services and operations are available around the clock, promoting economic growth and boosting productivity.

Speaking to energy sector stakeholders in Accra, Mr Mahama reiterated his commitment to expanding clean energy as part of a comprehensive energy transition plan.

He emphasized that his administration would ensure power generation meets projected demand while addressing reserve requirements to guarantee a stable and uninterrupted power supply.

Mahama also pledged to raise the share of clean energy in the national power generation mix to 10%, through fiscal and regulatory incentives aimed at promoting non-hydro renewable energy sources.

He further promised to implement a time-of-use tariff system, which would provide businesses with affordable and consistent power to support continuous operations throughout the day and night.

In addition, Mahama committed to the transparent management of revenues from the Energy Sector Levies Act (ESLA) and strict adherence to the cash waterfall mechanism to ensure accountability in the energy sector.

He also vowed to partner with local entrepreneurs to reduce technical and commercial losses in the energy system, thereby improving overall efficiency and reliability.

"We will systematically align power generation with forecasted demand and address reserve requirements. My administration will increase clean energy consumption in line with our energy transition agenda and provide the necessary fiscal and regulatory incentives to reach a 10% share of non-hydro renewable energy in our generation mix," Mahama stated.

"Other key interventions will include implementing a time-of-use tariff system to offer affordable and stable power for businesses to operate around the clock," he added.