This comes after a meeting with the Independent Power and Gas Producers to address government’s approach to reforming the current take or pay structure and excess supply that undermined the energy sector.
A statement signed by Mr Patrick Nomo, the Chief Director of the Ministry of Finance, said a long term sustainable strategy would seek to create a competitive and dynamic energy sector that guaranteed reliable and affordable power for the Ghanaian people and businesses.
“Moving Ghana beyond Aid means Government is committed to achieving security of electricity supply and sustainable generating capacity that offers reliable and affordable power for the Ghanaian people and businesses, whilst providing investors with attractive opportunities,” it said.
As a result, Government continues to promote policies to deliver a regime of competitive tariffs, growth of strategic industries, and universal access to power.
“As part of its long term strategy, reflecting financial, environmental and industrial considerations, Ghana will also continue to look to develop its gas sector,” the statement said.
“Government will release more details about the consultation process in the coming days.”