Audio By Carbonatix
Outgoing Finance Minister Seth Terkper says enough investments have been made to ensure that the country does not return to 'dumsor' days in the next administration.
Speaking to the press Tuesday, he said the phenomenon is being brought under control to the point where the projection is that going forward supply would exceed demand.
"This could be reversing the situation in some two to three years," adding the nation has had the occasion to stop the processing of independent power producer applications.
The country was hit by a four-year power crisis which saw major parts of the country in darkness for 24 hours with only 12 hours of electricity supply.
After series of broken promises by the Mahama-led government, the crisis abated late this year with the increase in generation capacity through the procurement of the KARPOWER, Ameri plants etc.
This comes as energy experts and industry watchers have projected a return to another power crisis in April next year due to instability over the source of fuel.
The Africa Center for Energy Policy (ACEP) has warned of a return to a crippling power crisis in 2017 hinging its worrying projection on unsustainable fuel supply.
In a report released by ACEP titled "Beyond 2016 Elections, Energy Sector Priorities" it warned that fuel supply, particularly gas, will be difficult to find from April 2017.
With water supply in the Akosombo Dam said to be at an eternally low levels hydropower will also not be an option.
"Fuel supply has become more challenging as thermal generation will continue to dominate the sector," the ACEP report said.
But Mr Terkper has assured that a comprehensive review of the issue is completed adding government is on course to have a third FPSO which will increase the supply of crude as well as gas.
"Gas is expected to follow from the TEN fields from the beginning of next year and therefore and we are likely to see a more stable supply of gas," he said.
Latest Stories
-
Ayoub Group donates motorbikes to Nima Police to boost security operations
11 minutes -
ECOWAS Court adjourns ruling on Torkornoo’s bid to halt removal proceedings
23 minutes -
Donkeys face extinction – Advocates demand crackdown on illegal hide trade
24 minutes -
Glasgow 2026: Ghana to present 40 athletes for Commonwealth Games
28 minutes -
We’ll use every legitimate means to stop ECG privitisation – TUC
37 minutes -
Now I feel like a celebrity – Anthony Osei reacts after JoyNews Impact Makers honour
52 minutes -
Kofi Bentil urges political tolerance to protect Ghanaian businesses and investment
56 minutes -
ECG’s biggest problem is forex – Dubik Mahama
1 hour -
Man Utd reach agreement to appoint Carrick manager
1 hour -
We must review and renegotiate all mining contracts – Kofi Bentil
1 hour -
‘My heart is full’ – JoyNews Impact Makers winner celebrates courage of amputees
2 hours -
Dubik Mahama defends ECG reforms as IMF pushes for greater private sector participation
2 hours -
Government policies drove Ghana’s economic recovery, not IMF – Dr Nyarko Otoo
2 hours -
IMF gains should not be celebrated yet – Kofi Bentil
3 hours -
Ghana still addicted IMF programmes that don’t promote production – Dr Nyarko Otoo
3 hours