Dr. Elikplim Apetorgbor, CEO of the Independent Power Generators Ghana (IPGG), recently expressed his organization’s support for the introduction of the GH¢1 Energy Sector Levy. In a statement issued by Dr. Apetorgbor, he emphasized the necessity of this policy intervention to address the financial instability plaguing the power sector.
The IPGG believes that the levy is a crucial step in restoring stability and tackling the unsustainable debt within the electricity value chain. Dr. Apetorgbor highlighted the mismanagement of previous Energy Sector Levy funds and loans, which have led to the current distress in the sector affecting power producers, fuel suppliers, and system reliability.
According to Dr. Apetorgbor, the power delivery ecosystem is under immense strain, with IPGG struggling to cover costs, maintain assets, and secure fuel supplies. This situation not only undermines grid stability and electricity reliability but also erodes confidence among investors and financial partners.
The IPGG commended the government for taking responsibility and implementing corrective actions through the introduction of the GH¢ levy. They believe that if properly managed and transparently applied, the levy can help restore liquidity and credibility in the power sector.
While acknowledging the burden the levy places on consumers, especially in the current economic climate, Dr. Apetorgbor emphasized the severe consequences of inaction, including blackouts, plant shutdowns, job losses, and decreased national productivity. He urged all Ghanaians to support this measure as a shared responsibility for ensuring a stable and resilient electricity supply.
In conclusion, Dr. Apetorgbor stated that the IPGG is ready to collaborate with the government and stakeholders to ensure the effective utilization of the levy proceeds and to place the sector on a path towards financial sustainability, operational efficiency, and long-term resilience.
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