Fix energy crisis with 2020's US$1 billion sovereign bond - John Jinapor to government

The Ranking Member on the Mines and Energy Committee of Parliament, John Abdulai Jinapor, has advised government to commit the US$1 billion sovereign bond borrowed in 2020 to address the financial challenges of the energy sector.

He also raised concerns on the need for the energy sector players to pre-inform electricity consumers on their intended power cuts for customers to take remedial steps to mitigate the effects of such outages.

Addressing a press conference in Parliament yesterday, he urged government to inject the much-needed capital into the power sector.

“The government must ensure that energy sector State-Owned Enterprises (SOEs) publish details of their financial statements, including details and debts owed to them, on time,” he added.

Mr Jinapor stressed the need for power sector managers to pursue long-term planning for fuel security for generating assets at the least cost possible.

According to him, the government must allow independent power producers (IPPs) to take responsibility for their fuel supply requirements.

On the back of the Minister of Energy, Dr. Matthew Opoku Prempeh, attributing the current power outages to the inability of the Bui Power Authority to generate power, Mr Jinapor said the current outages in the country was rather due to financial challenges.

“Most of the energy sectors SOEs have continued to witness worsening financial positions since 2017,” he added.

At the press conference were the leadership of the Minority Caucus, including the Minority Leader, Mr Haruna Iddrisu, and the Minority Chief Whip, Alhaji Mohammed Mubarak-Muntaka, as well as other members of the Minority.