How the cuts will be implemented has not been made clear for the time being, except a statement saying energy intensive industries will be made exempt from certain levies, such as the Renewables Obligation. The mechanism obliges electricity distributors to source part of their electricity from wind and solar installations, per government plans to reduce the country’s reliance on hydrocarbons.
President Nana Addo Dankwa Akufo-Addo has debunked the perception that the government is engaged in a sell-out of petroleum agreements to international investors.
When industry players in Ghana’s energy sector recently gathered under the guidance of the Public Interest and Accountability Committee (PIAC), the stunted nature of the country’s oil production dominated the conversation.