A new company, Power Distribution Services Ghana Limited, will with effect from February take over the operations of the Electricity Company of Ghana (ECG).
It follows the coming into effect the agreement between the government and a consortium of investors led by Manila Electric Company (Meralco). The deal allows the private investors own majority shares in ECG.
Chief Executive Officer of the Millennium Development Authority, Martin Eson-Benjamin, told TV3 Thursday that the concessionaires are committing 212 million dollars to transform the fortunes of the power distributor to enhance adequate and reliable power in the country.
The concession deal which falls under the Compact 2 of the Millennium Challenge Account, will focus on developing projects and initiatives that will address the constraints to the supply of adequate and reliable power.
“In the next 20 years, we would expect to see efficiencies improvement and on the bases of the efficiencies improvement, you and I will have sustainable power at a price we can afford,” he stated.
He also hinted they are working in collaboration with the Public Utilities Regulatory Commission (PURC) to ensure that electricity prices are affordable.
Mr. Eson-Benjamin added the second phase of the project which is already in its fourth month will also seek to address the meter monitoring system of the new entity.