On Tuesday, 23 March 2021, Energy Minister Dr Mathew Opoku Prempeh held a virtual appraisal meeting with the World Bank on matters pertaining to the energy sector.

The World Bank team was led by Mr David Vilar, Country Representative for Ghana.

The discussions included the activities of the Ghana Energy Sector Transformation Initiative Project (GESTIP) support for the Ministry of Energy as well as challenges pertaining specifically to the gas and power sectors.

In his remarks, Dr Prempeh observed that gas prices in the country affect uptake by industry as they are too high and needs to be addressed “if we are to make progress in our industrialization agenda.”

He also noted that the Electricity Company of Ghana’s inability to account for 31% of the power it receives is a matter of concern and that it would become necessary at some point to introduce reforms, alongside renegotiating Public Utilities Regulatory Commission’s utility tariffs.

Dr Prempeh noted that he was pleased with the positive outlook of the meeting and expects that the World Bank will continue to play a significant role as a development partner in Ghana’s energy sector.