Audio By Carbonatix
Deloitte Ghana has described the 2026 Budget Statement as a technically focused approach to addressing Ghana’s energy sector challenges.
According to the professional services firm, it shifts attention toward production decline management, gas-to-power sustainability, infrastructural completion, and long-term access goals.
Making its view on the energy sector, it said the government’s recognition of this decline in petroleum output and the accompanying plan for Voltarian Basin drilling is a positive step toward securing future reserves. However, the success of this strategy depends on sustained investor confidence, clarity on fiscal terms, and GNPC’s financial capacity.
“Government will need to continue to enforce the Cash Water Fall Mechanism (CWM) to ensure gains realized now are sustained as part of the overall strategy to improve the financial health of the energy sector. Commitment to the CWM will also ensure renegotiated PPAs [Public Partnership Agreements] are honoured to also guarantee Ghana’s energy security and sustained development”.
It also stressed that the emphasis on gas utilisation is prudent, stating that gas remains Ghana’s most reliable path to reducing power generation costs, stabilising electricity tariffs, and mitigating foreign exchange risk.
Though the budget recognises this, Deloitte said the execution challenges remain particularly around infrastructure timelines, upstream supply reliability, and financing arrangements.
“It is important for government to ensure commitment to all the gas infrastructure investments including the commitment to make available 70 MMscf/day of gas to the power sector. This is important to guarantee a reduction first in the energy sector debts and long-term reduction in the cost of electricity to consumers”.
The professional services firm added that the universal access roadmap is achievable.
“The new Rural Electricity Acceleration and Urban Intensification Initiatives represent a more structured approach to achieving 100% access by 2029, though funding guarantees and contractor performance will be essential to avoid delays”, it concluded.
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