Intermittent power outages may lead to increased prices from businesses – AGI

Seth Twum Akwaboah CEO AGI 768x472 1?fit=768%2C472&ssl=1 Seth Twum Akwaboah, Chief Executive Officer of the Association of Ghana Industries (AGI)

Sat, 3 Apr 2021 Source: www.ghanaweb.com

Some businesses and firms in the country may be forced to increase the prices goods and services over reports of intermittent power outages, according to Chief Executive of the Association of Ghana Industries (AGI), Seth Twum Akwaboah.

His comments come after power transmission company, Ghana Grid Company Limited (GRIDCo) disclosed it is conducting expansion works which is resulting to intermittent power cuts in some parts of the country.

But Seth Twum Akwaboah believes businesses that might suffer from these power outages may pass on the cost incurred to their consumers and clients.

“If it doesn’t last long, then during the period when production is not in process due to the power outage, firms will have to double up production if possible when power returns to be able to meet the demand of customers,” Twum Akwaboah told journalists.

“However, if it lasts long, firms will have no choice but to cut down production. Within a certain period, companies can afford it but if the load shedding programme goes on beyond a certain period, then companies will have no choice but to pass it on in the form of higher prices,” he continued.

He further added, “But I think it’s too early to make such a conclusion, so let’s first wait for the load shedding timetable to be published, then we can make an assessment of it and know of it’s going to have an impact on prices and production”.

Meanwhile, GRIDCo has disclosed that parts of Accra and Winneba are likely to be affected by some power outages as a result of ongoing expansion works on transmission lines.

Chief Executive of GRIDCo, Jonathan Amoako-Baah, providing updates at a press briefing on Thursday, April 1, 2021 debunked claims his outfit fell short in its power generation which some have attributed to the intermittent power outages.

“GRIDCo is not confronted with any generation problem and I want to emphasize that the outages are a result of ongoing improvement works,” Amoako-Baah assured.

Source: www.ghanaweb.com
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