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Information Minister Kojo Oppong Nkrumah dispelled concerns that a government decision to revise some of the current electricity purchase agreements would result in judgment debts.
According to him, the government is working cautiously to convert firm purchase agreements into firm purchase contracts with some independent power producers (IPP), so as to avoid possible legal problems. such as a breach of contract.
"It's not that we have the intention to force him to go down [IPPs’] the throat. We can not do that. The idea is also to explain where the ruler has a tendency to go, where the red line is, so we start working with them, "he told the MultiTV news channel on Tuesday evening. PM Express.
The Minister of Finance declared "state of emergency" In the energy sector, Monday, a situation that, he said, blew the state of alarming financial resources.
Ken Ofori-Atta said energy challenges could pose serious financial risks to the entire economy.
"At the heart of these challenges, there are the incoherent purchase contracts signed by the NDC, which force us to pay for a capacity we do not need," Ofori-Atta said. the presentation of the mid-year budget review to Parliament.
He said the country pays more than 2.5 billion GHGs per year for about 2,300 MW of installed capacity that the country does not consume.
"We will, from 1 August 2019, with the support of Parliament, make price-fixing contracts a beast of the past," he said.
Meanwhile, Alex Mold, former CEO of the Ghana National Petroleum Company (GNPC), has gained extensive knowledge of the energy sector. stated that the decision to review the agreements is ill-advised and dangerous.
Mr Mold in an article on the subject said that the revision of these electricity purchase agreements will be an obstacle for potential investors in the energy sector.
"If investors agree to enter into management agreements, the government will have to provide enhanced security systems to allow for the financing of the development of these gas fields for Gas2Power. Clearly, the approach proposed by the minister shows his team's lack of experience in funding infrastructure projects, "Mold said in the article.
In addition, the African Center for Energy Policy (ACEP) doubts that the government is able to overcome critical legal obligations as part of its attempt to revise electricity contracts with at least four PPIs that have signed agreements on electricity. 39, purchase firm with the state.
However, reacting to these concerns, Oppong Nkrumah said that the successes already achieved in renegotiating certain energy contracts proved that other renegotiations would also be successful.
Watch Tuesday's episode of PM Express in the video link below.
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