The Association of Ghana Industries (AGI), has indicated that some firms in the country may be forced to increase prices of goods over how the planned load shedding exercise by the Electricity Company of Ghana (ECG) is to be implemented.
Speaking to the media, Chief Executive Officer (CEO) of the AGI, Seth Twum Akwaboah, opined that firms badly hit by the load shedding exercise may pass on the costs incurred to consumers.
His comment follows some assertions that the ECG is to soon publish a load shedding timetable as the Ghana Grid Company Limited (GRIDCo) embarks on works to upgrade its systems.
“If it doesn’t last long, then during the period when production is not in process due to the power outage, firms will have to double up production if possible when power returns to be able to meet the demand of customers.”
“However, if it lasts long, firms will have no choice but to cut down production. Within a certain period, companies can afford it but if the load shedding programme goes on beyond a certain period, then companies will have no choice but to pass it on in the form of higher prices,” he said.
“But I think it’s too early to make such a conclusion, so let’s first wait for the load shedding timetable to be published, then we can make an assessment of it and know of it’s going to have an impact on prices and production,” he added.
Some parts of Accra have recently been witnessing power outages, a situation the leadership of GRIDCo at a presser held by the Ministry of Information on Thursday, April 1, attributed mainly to the shortage of gas supply from the West African Gas Pipeline Company (WAPCo).
