The Private Enterprise Federation (PEF) of Ghana has urged government to explore cheaper forms of power supply to enable businesses to thrive.
PEF CEO Nana Osei Bonsu said the drive by government to revolutionise the industrial sector will not succeed if the cost of power in the country continues to soar.
He was of the view that the Akosombo dam would need re-engineering to ensure that the required volume of water for generating hydroelectric power is always available to prevent frequent power cuts and to also supplement power from thermal sources which come at a huge cost.
For Mr Bonsu, there are many river bodies which can easily be channelled into the Akosombo dam to ensure there is enough power all year.
“One of the main concerns of the private sector is energy. Not just the availability but the cost as well… The water bodies that go into the sea, why can’t we redirect it to Akosombo [dam]?” he questioned.
He revealed that “a lot of businesses are collapsing because of the cost of energy; if they don’t pay, the power is cut, and when they pay they run into serious debt”.
Mr Bonsu, who was speaking with Moro Awudu on Class FM’s Executive Breakfast Show on Wednesday, April 19, added that it was time Ghana embraced renewable sources of energy to create a mix that will reduce cost drastically.
“The efficiency and the mix [are important]. Some places have 35 per cent of energy mix made up of renewables. We have the sun, how about solar and why are we not tapping into it? How about the tonnes of garbage that fill our streets and waterways. Wind and others are also available,” he explained.
For him, other private power providers must take up the opportunity to create more competition and reduce the monopoly of the Electricity Company of Ghana (ECG) for greater efficiency.
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