Electricity tariffs: Agyarko hints at possible reduction

Energy Minister, Boakye Agyarko, has revealed that the government will in the coming days, consider reviewing electricity tariffs downwards following the government’s agreement with Equatorial Guinea to supply Liquefied Natural Gas.

The bilateral agreement was reached when President Nana Addo Dankwa Akufo-Addo paid a three-day State visit to Equatorial Guinea.

Arriving at the Kotoka International Airport on Wednesday with the President and his entourage, Mr Agyarko explained at a press conference that the agreement will see Ghana receiving a supply of 150 million to 200 million standard cubic feet of Liquefied Natural Gas per day, which can be stored for 21 days for use.

He added that if the expected gas is delivered properly, it will enable the Asogli Power Plant to expand its production from 120 megawatts to 580 megawatts. This, he says, will go a long way to stabilize further the electricity generation, transmission and distribution situation in the country.

“It is our faithful expectation that gas, as a feed stock instead of liquid fuels, will be cheaper in terms of power production.

“This could mean that once the cost of electricity production comes down, we could be in the further position to improve or lower the user tariffs that our citizens pay for electricity,” the Minister noted.