Accra: Ghana's decision to increase the use of natural gas for thermal power generation saved the country about $500 million last year, Energy and Green Transition Minister Dr. John Abdulai Jinapor has revealed. The savings were achieved by reducing the use of liquid fuels, which are more expensive to import and use for electricity generation. Dr. Jinapor said the shift had helped lower the cost of power generation and reduced financial pressure on the energy sector.
According to Ghana Web, speaking at the Future of Energy Conference, Dr. Jinapor highlighted the importance of building on the gains made from the switch to gas. He emphasized that the analysis conducted last year showed significant savings from liquid fuel to gas import substitution and stressed the importance of continuing these efforts. He also mentioned the critical role of reducing fuel costs in strengthening the finances of Ghana's power sector.
Dr. Jinapor stated that the country must look beyond fuel costs and invest in new technologies and other energy sources to meet future electricity needs. He noted that Ghana's energy mix would continue to include thermal power, natural gas, and renewable energy. Additionally, he mentioned that the government was working to improve electricity infrastructure to ensure a more reliable supply as demand increases.
The Minister further explained that these measures were crucial as Ghana seeks to expand industries, support businesses, and make electricity more affordable and reliable.