Accra, Nov. 27, - President Nana
Addo Dankwa Akufo-Addo on Monday inaugurated the newly constituted Board of the
Public Utilities Regulatory Commission (PURC), charging the members to take
steps to increase fairness for consumers in the utilities tariff-setting
regime.
He said the perception that the
utility regulator had become an upward tariff reviewing entity must change, and
instead be a body that protects the interest of consumers and ensure the
delivery of quality service by utility providers.
“This perception can no longer be
left to fester…it must change,” President Akufo-Addo told the eight-member
Board, Chaired by Mr Michael Opam, a technical adviser at the Energy Ministry
at a short ceremony at the Flagstaff House in Accra.
President Akufo-Addo also tasked
the Board to sanction appropriately utility service providers that fail to meet
any required standards of performance, because the country’s development and
economic growth hinged greatly on the energy sector.
“The Board has a duty to
contribute to the development of a competitive energy sector, to drive the
industrial and economic development of the country and at the same time, ensure
the ordinary Ghanaian has access to efficient and affordable energy.”
The President said since assuming
office in January, his government had taken steps that have ensured a marked
improvement in the supply and distribution of electricity.
He said government successfully
issued a GHC4.7 billion, in seven and ten year bonds, to settle a portion of
the GH₵10 billion debt
overhang, inherited from the previous administration in the energy sector,
saying that, the remainder of the debt would be settled by the end of the first
quarter of 2018.
The President stated further that
the initiative was “extremely important” in resolving some of the liquidity
challenges faced by the banks and would enable more investments to be attracted
into the sector, all with the goal of reducing the cost of energy.
President Akufo-Addo said the 2018
budget read in Parliament last week set out a tariff-setting methodology and
cost structure of power production, and this has resulted in recommendations
that have been made to the PURC for consideration.
“It is important, in the view of
government, that we bring relief to the Ghanaian consumer and Industry”, he
said.
The President reminded the Board
members that they were not subject to the “direction or control of any person
or authority in the performance of their functions”.
However, the statutory
composition of the Board, he noted, demonstrated the necessity of thorough
stakeholder consultation in the successful fulfillment of the Commission’s
mandate.
“The task ahead of you is a
challenging one, it is my expectation and hope that you would be up to it and
you have my full support to undertake the measures to enable you to succeed.
Much of the future development of our country is reposed squarely on your
shoulders,” the President said.
Mr Opam expressed appreciation to
the President for the confidence reposed in them, and assured that the Board
would work to balance the interest of consumers and investors in the
electricity, natural gas as well as water sectors.
He said whilst government took
steps to offset the legacy debts in the sector, the Board would also ensure
that no such debts are accrued and would demand greater operational efficiency
and ensure higher standards of performance from utility companies to ensure
consumers get reasonable value for their money.
The PURC Chairman said although
the institution was independent, it would however be guided by the
socio-economic policy of government in the performance of their mandate.
“We would be mindful of the
importance of our mandate in respect of transforming the economy through
industrialization and job creation. We will perform our role as partners in
that collective agenda”, he said.
Other members of the Board
include, Madam Mami Dufie Ofori, the Executive Secretary, Mr Daniel
Owusu-Korangteng, a representative of Trades Union Congress, Dr Yaw Adu Gyamfi,
a representative of the Association of Ghana Industries and Mr Ebo B.
Quagrainie, representative of the Consumer Protection Agency.
The rest are Prof. Joe Amoako
Tuffour, Mr Ismael Edjekumhene, Mr Emmanuel Sekor and Madam Dora Oppong, all
nominees of the President to the Board.
GNA
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