• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, July 9, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

ECG Tariff Adjustment: 148% Is Too High For Industries- AGI

May 10, 2022
Stephen M.Cby Stephen M.C
in Vaultz Business
0
AGI welcomes establishment of National Development Bank

Chief Executive Officer of the Association of Ghana Industries, Seth Twum Akwaboah.

Chief Executive Officer of the Association of Ghana Industries (AGI), Seth Twum Akwaboah, has revealed that the 148% electricity tariff adjustment proposed by the Electricity Company of Ghana is high for industries in the country.

According to Mr Akwaboah, although the 148% is just a proposal from the ECG, it is vital to know what is informing the price adjustment proposed by the national distributor. He noted that the margin of increase will have an unpalatable impact on businesses as industries are going through serious challenges, particularly with regard to cost of production and cost of freight of raw materials into the country.

The AGI CEO explained that despite the fact that production cost is going up, prices cannot increase proportionately because industries do not want to lose its market share, “especially when you have imports also competing with you in your own market”.

RelatedPosts

24-Hour Economy Policy Alone Not Enough – GNCCI Warns

Business and Investor Confidence Rebounding in Ghana – AGI

AGI Launches 14th Ghana Industry and Quality Awards to Spur Global Competitiveness

“We are aware of a number of things. We know the factors that go to determine the tariff level, the exchange rates, the international oil prices, the energy mix; those are the factors that normally are taken into account for a review. So, we expect that if changes are happening in these areas, then possibly there may be a review. However, we are also mindful of the fact that industry has been complaining seriously about the issue of cross subsidy, where industries are being made to subsidize residential users of tariffs of electricity.

“On the whole, I think that the 148% is too high for industries. I don’t think that can be possible for industries but we will look into the numbers and come to a certain conclusion.”

Seth Twum Akwaboah

Impact of electricity adjustments on industries

The AGI, Mr Akwaboah intimated, is mindful of the fact that ECG must be supported to provide efficient and reliable service in the form of electricity to industries. He expressed that because they are unable to“recover their electricity generated to provide the kind of services” industries need, occasional adjustments are sometimes unavoidable. That notwithstanding, he highlighted that the extent of adjustment always have to be looked at, taking into account the fact that businesses want to know their actual cost of service.

“If your cost of serving me electricity costs me X that is what I should pay for. I cannot pay the X plus some other things which goes to subsidize residential users and other users which are not relevant to industries. When you do that, you make industries uncompetitive. So, coming from the background of cross subsidy, I believe that if you remove the cross subsidies and you are even adjusting, you come to a point where you notice that the actual increment to industries will not be that high…”

Seth Twum Akwaboah

 Commenting on the Public Utilities Regulatory Commission’s (PURC) engagement expected to hold on May 11,2022, Mr Akwaboah revealed that the Commission has extended an invitation to the Association to discuss matters pertaining to the adjustment proposed. He expressed optimism over the outcome of the engagements indicating that his outfit constantly engages the Commission especially when it comes to major tariff reviews.

“Already, we are one of the high tariff countries when it comes to electricity. So, if you want to make your industries competitive, then you are mindful of the fact that you need to really protect industries by making the cost competitive. So, I believe in our meeting with them, all these factors will be taken into account and we’ll come to a reasonable conclusion for all of us.”

Seth Twum Akwaboah

READ ALSO: Prince Charles Sets out UK Government Agenda

Tags: Association of Ghana IndustriesECGElectricity TariffsPURC
Please login to join discussion
Previous Post

Miss Rwanda pageant suspended over sex abuse claims

Next Post

Sri Lanka Protest: Security Forces Tasked to Open Fire on Law-Breakers

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

Debby Reveals Professionalism Fuels Female Musicians
Entertainment

Debby Reveals Professionalism Fuels Female Musicians

July 9, 2025
Mass Jail Sentences Deepen Tunisia’s Political Crisis
Africa

Mass Jail Sentences Deepen Tunisia’s Political Crisis

July 9, 2025
Mustapha Gbande, Party, President.
General News

Every NDC Member Is Better Off Today – Gbande

July 9, 2025
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
Asia

Mass Casualty Incidents Besmirch Gaza’s Aid Struggle

July 9, 2025
GoldBod CEO Champions Value Addition in Mining
Extractives/Energy

Ghana Poised to Reap Big from Soaring Gold Prices

July 9, 2025
Hon. Haruna Iddrisu, Ghana's Minister for Education
General News

Ghana Moves to Overhaul Scholarship Regime with New Bill

July 9, 2025
Debby Reveals Professionalism Fuels Female Musicians
Entertainment

Debby Reveals Professionalism Fuels Female Musicians

by Esther Korantemaa OffeiJuly 9, 2025
Mass Jail Sentences Deepen Tunisia’s Political Crisis
Africa

Mass Jail Sentences Deepen Tunisia’s Political Crisis

by Lawrence AnkutseJuly 9, 2025
Mustapha Gbande, Party, President.
General News

Every NDC Member Is Better Off Today – Gbande

by Silas Kafui AssemJuly 9, 2025
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
Asia

Mass Casualty Incidents Besmirch Gaza’s Aid Struggle

by Comfort AmpomaaJuly 9, 2025
GoldBod CEO Champions Value Addition in Mining
Extractives/Energy

Ghana Poised to Reap Big from Soaring Gold Prices

by Prince AgyapongJuly 9, 2025
Hon. Haruna Iddrisu, Ghana's Minister for Education
General News

Ghana Moves to Overhaul Scholarship Regime with New Bill

by Evans Junior OwuJuly 9, 2025
Debby Reveals Professionalism Fuels Female Musicians
Mass Jail Sentences Deepen Tunisia’s Political Crisis
Mustapha Gbande, Party, President.
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
GoldBod CEO Champions Value Addition in Mining
Hon. Haruna Iddrisu, Ghana's Minister for Education
[/vc_row_inner]

Recent News

  • Debby Reveals Professionalism Fuels Female Musicians
  • Mass Jail Sentences Deepen Tunisia’s Political Crisis
  • Every NDC Member Is Better Off Today – Gbande
  • Mass Casualty Incidents Besmirch Gaza’s Aid Struggle
  • Ghana Poised to Reap Big from Soaring Gold Prices
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.