{"id":11331,"date":"2021-11-28T16:51:02","date_gmt":"2021-11-28T16:51:02","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/uncategorized\/government-spends-about-four-billion-dollars-on-power-subsidies-habibu-adam"},"modified":"2021-11-28T17:43:19","modified_gmt":"2021-11-28T17:43:19","slug":"government-spends-about-four-billion-dollars-on-power-subsidies-habibu-adam","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/government-spends-about-four-billion-dollars-on-power-subsidies-habibu-adam","title":{"rendered":"Government spends about four billion dollars on power subsidies \u2013 Habibu Adam"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>Tema, Nov 28- Government pays about four billion dollars in subsidizing the energy sector, Mr Habibu Adam, a Senior Economist, at the office of the Senior Presidential Advisor, has said.<\/p>\n

Mr Adams said the subsidy payment was more than the money being spent to implement the Free Senior High School (FSHS) policy, adding that this was because Ghanaians were not paying the right tariff.<\/p>\n

He said due to the huge financial burden on the government, it was about time to take a second look at the power tariff since it was unrealistic to continue to subsidize power. Mr Adam was speaking at a seminar organized by the Ghana News Agency for state and non-state actors to address national issues.<\/p>\n

Speaking on the topic: \u201cThe Strength of Ghana\u2019s Economy: Financial Services Sector and other sectors of the economy,\u201d Mr Adam said Ghanaians suffered power rationing for almost four years.<\/p>\n

He said the NPP government thought it wise to cushion companies to revive and expand after most cut down on their production due to the huge amount of monies spent on fueling generators.<\/p>\n

He said the government did this by reducing drastically the cost of electricity, which he said deprived the Electricity Company of Ghana (ECG) a lot of revenue, noting that there had not been a tariff adjustment for the past two years.<\/p>\n

\u201cYou realized that for the last two years, there hasn\u2019t been any adjustment and what we are currently paying now is even lower than what we were paying in 2015, but somebody has to pay for that and the government is paying a lot.\u201d<\/p>\n

He said the monies ECG collected from customers were not enough to meet the cost of its operations and it was the same for the Independent Power Producer (IPP), Fuel Suppliers for thermal generation, and the Ghana Grid Company (GRIDCo).<\/p>\n

\u201cFor instance, if you look at August, the invoice was about GHC900 million and the money collected by ECG after taking out all other statutory deduction what was left was GHC540 million.<\/p>\n

\u201cThe money that was required to pay all those in the value chain was about GHC900 million, so about GHC300 million was outstanding and that is just monthly so it means we don\u2019t pay the right tariff,\u201d he indicated.<\/p>\n

He said Ghana\u2019s energy cost was very high in the West African sub-region, saying it was partly due to the costly power plants that were brought in during the energy crises.<\/p>\n

\u201cIt is a contract for a take or pay, so whether you take or not you have to pay for it, the unfortunate thing is that during those times the peak energy demand was almost about 2,700 megawatts of energy and unfortunately we signed contracts in excess of 5,000 megawatts.<\/p>\n

\u201cSo close to 2,300 megawatts are energy that we don\u2019t need but because of the take or pay contract we have to pay for it so at the end of the year it cost us over 500 million dollars and all are on the head of ECG so the government has to come in to pay.\u201d<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. Tema, Nov 28- Government pays about four billion dollars in subsidizing the energy sector, Mr Habibu Adam, a Senior Economist, at the office of the Senior Presidential Advisor, has said. Mr Adams said the subsidy payment was more than the money being spent to implement the Free Senior High School (FSHS) policy, […]<\/p>\n","protected":false},"author":84,"featured_media":11330,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,12],"tags":[5092,5096,429,1453,5771],"class_list":["post-11331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-ghana","tag-ghana","tag-government","tag-habibu-adam"],"yoast_head":"\nGovernment spends about four billion dollars on power subsidies \u2013 Habibu Adam - Ghana<\/title>\n<meta name=\"description\" content=\"Tema, Nov 28- Government pays about four billion dollars in subsidizing the energy sector, Mr Habibu Adam, a Senior Econ ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-spends-about-four-billion-dollars-on-power-subsidies-habibu-adam\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government spends about four billion dollars on power subsidies \u2013 Habibu Adam\" \/>\n<meta property=\"og:description\" content=\"Tema, Nov 28- Government pays about four billion dollars in subsidizing the energy sector, Mr Habibu Adam, a Senior Econ ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-spends-about-four-billion-dollars-on-power-subsidies-habibu-adam\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-28T16:51:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-28T17:43:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2021\/11\/img-61a3bf9ca086d.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-spends-about-four-billion-dollars-on-power-subsidies-habibu-adam#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-spends-about-four-billion-dollars-on-power-subsidies-habibu-adam\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Government spends about four billion dollars on power subsidies \u2013 Habibu Adam\",\"datePublished\":\"2021-11-28T16:51:02+00:00\",\"dateModified\":\"2021-11-28T17:43:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-spends-about-four-billion-dollars-on-power-subsidies-habibu-adam\"},\"wordCount\":537,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-spends-about-four-billion-dollars-on-power-subsidies-habibu-adam#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2021\/11\/img-61a3bf9ca086d.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\",\"government\",\"Habibu Adam\"],\"articleSection\":[\"all news\",\"homepage-english\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-spends-about-four-billion-dollars-on-power-subsidies-habibu-adam#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-spends-about-four-billion-dollars-on-power-subsidies-habibu-adam\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-spends-about-four-billion-dollars-on-power-subsidies-habibu-adam\",\"name\":\"Government spends about four billion dollars on power subsidies \u2013 Habibu Adam - 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