The Member of Parliament for Assin Central Hon. Kennedy Agyapong in a University of Ghana TESCON meeting says Ghana losses $2bn due to shocking agreements the NDC government signed in the past.
The lawmaker explained that erstwhile NDC administration signed 17 different Power Producer agreements under Take or Pay contract.Take or Pay contract means that you either take what has been produced or you pay for even though you don’t need. The right thing should been that you pay for what you use. Apparently, these Power Producers produce excess power which Ghana must pay for even though it is not used and that amount to $2bn.
Again, Electricity Company of Ghana pays 77% of the revenue collected to these Power Producers every week and so the Company only has access to 23% of the revenue, this explains the high electricity tariff.
Hon. Kennedy Agyapong added that as part of the said agreements signed by the NDC government, Ghana used to pay 3 scent for specific amount of kilowatt per hour but now pays 17 scent for the same amount of kilowatt.