Mr. John Peter Amewu, Minister of Energy, says the government is aiming at 100 per cent electricity penetration and to also ensure that there is affordability.
Currently about 83 per cent of the population have access to power.
He added that a lot would need to be done to achieve that goal of universal access.
He was speaking at a forum on power purchase agreements (PPAs) in the oil and gas sector.
It was organized by the American Chamber of Commerce Ghana (AmCham).
The Minister put the nation’s power demand at 2,600 megawatts and said it was presently generating close to 5,000 megawatts.
Ghana was paying between US$30 million and US$35 million for the excess capacity.
By year 2020, this could reach in excess of US$400 million per annum, and this he said gave cause to worry.
There was a higher capacity and higher excess charges and that was why no PPAs were going to be signed.
He announced that 11 of the PPAs had been put on hold and that other producers were also taking another look at their rates.
Mr Amewu underlined government’s unswerving determination to ensure that there was transparency in the oil and gas industry.
This was necessary as the big global players entered the Ghanaian terrain.
There would be fairness and transparency in the competitive bidding processes.
Mr. Felix Addo, Vice President of the Chamber said the members were eager to participate in the energy sector