The Minister of Energy and Green Transition, Dr. John Abdulai Jinadinator was incorrect, let me re-edit to John Abdulai Jinapor has reaffirmed the government's commitment to retaining ownership of the Electricity Company of Ghana (ECG). According to Dr. Jinapor, the Cabinet has opted for a concession model that allows for private sector participation to enhance efficiency without relinquishing state control.
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This approach involves dividing ECG's operational areas into geographical zones, each managed by a private company. These companies will purchase bulk power from ECG and sell it to consumers, with ECG's revenue guaranteed. The private sector's role is to collect payments and manage finances in a dedicated account, with any surplus funds belonging to them after ECG's share is deducted.
The Minister emphasized that the concession model is designed to promote efficiency, not privatization. ECG will remain the holding company, and the government will maintain its stake. The Public Utilities Regulatory Commission (PURC) will continue to regulate prices, setting a ceiling that private companies cannot exceed.
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To ensure transparency and competitiveness, the selection process for private companies will involve a rigorous evaluation, including a request for qualification (RFQ) and a request for proposal (RFP). Only companies with the necessary financial and technical capacity will be considered.
Dr. Jinapor assured the public that the government's decision is final and urged citizens to disregard any misinformation suggesting that ECG is being sold. The concession model aims to leverage private sector expertise to improve ECG's operations while protecting the company's interests and maintaining state ownership.
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