According to him, the PURC had been seen as an upward tariff reviewing entity, instead of a body that ought to protect the interests of consumers, in addition to ensuring the delivery of quality service by utility providers, stressing that such an image ought to change.

“This perception can no longer be left to fester…it must change,” President Akufo-Addo reiterated when he swore in the nine-member board at the Flagstaff House in Accra.

 It is chaired by Mr Michael Opam, a technical adviser at the Energy Ministry.

Membership

Other members of the board are Madam Maami Dufie Ofori, the Executive Secretary of the PURC; Mr Daniel Owusu-Koranteng, the representative of the Ghana Trades Union Congress, Dr Yaw Adu Gyamfi, the representative of the Association of Ghana Industries (AGI), and Mr Ebo B. Quagraine, the representative of the Consumer Protection Agency.

The rest are Prof. Joe Amoako Tuffour, Mr Ismael Edjekumhene, Mr Emmanuel Sekor and Madam Dora Oppong, all nominees of the President.

Sanction

President Akufo-Addo also called on the board to sanction utility service providers which failed to meet the required standards of performance, considering the important role that the utilities played in the socio-economic development of the country.

“The board has a duty to contribute to the development of a competitive energy sector to drive the industrial and economic development of the country and at the same time ensure that the ordinary Ghanaian has access to efficient and affordable energy,” he said.

He said since assuming office in January, his government had taken steps to ensure a marked improvement in the supply and distribution of electricity.

He said the government successfully issued GH¢4.7 billion in seven and 10-year bonds to settle a portion of the GH¢10 billion debt overhang in the energy sector inherited from the previous administration, adding that the remainder of the debt would be settled by the end of the first quarter of 2018.

The President said the initiative was extremely important in resolving some of the liquidity challenges faced by the banks and would enable more investments to be attracted into the sector, all with the goal of reducing the cost of energy.

He said the 2018 budget read in Parliament on November 15, 2017 set out a tariff-setting methodology and cost structure of power production, resulting in recommendations that had been made to the PURC for consideration.

“It is important, in the view of the government, that we bring relief to the Ghanaian consumer and industry,” he stressed.

Autonomy

He reminded the members of the board that they were not subject to the “direction or control of any person or authority in the performance of their functions”.

He noted, however, that the statutory composition of the board demonstrated the necessity for thorough stakeholder consultations in the successful fulfilment of the commission’s mandate.

“The task ahead of you is a challenging one and it is my expectation and hope that you will be up to it. You have my full support to undertake the measures to enable you to succeed. Much of the future development of our country is reposed squarely on your shoulders,” President Akufo-Addo told the board members.

Board Chairman

For his part, Mr Opam expressed appreciation to the President for the confidence reposed in the members and pledged that the board would work to balance the interests of consumers and investors in the electricity, natural gas and water sectors.

While the government took steps to offset the legacy debt in the energy sector, he said, the board would also ensure that no such debts were accrued again.

He said the board would demand greater operational efficiency and ensure higher standards of performance from utility companies to ensure that consumers got value for their money.

 The PURC Chairman said although the institution was independent, it would be guided by the socio-economic policy of the government in the performance of its mandate.

 “We will be mindful of the importance of our mandate in respect of transforming the economy through industrialisation and job creation. We will perform our role as weighty partners in that collective agenda,” he said.