The World Bank is eager to see the power sector in Ghana live up to its potential to become a force to reckon with in West Africa.

The Bank believes that the desire of Ghana’s power sector to become robust will remain a mirage if utility companies have to go to government every year for money to finance their operations.

The situation has persisted over the years because successive governments have interfered with the tariff regime by promising to subsidize the cost of electricity for consumers.

Commenting on government’s plan for the energy sector as the country makes the transition to an oil economy, Senior Energy Sector Specialist Sunil Mathrani described the current power sector as a bottomless pit into which funds are sunk.

The World Bank is also not impressed with what it says is the slow progress in the development of the regulatory environment for the gas associated with the country’s crude oil discovery.

Source: Joy Business/Ghana

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