Energy Minister Dr Mathew Opoku Prempeh has inaugurated the Electricity Market Oversight Panel (EMOP), whose mandate is to supervise the Ghana Wholesale Electricity Market (GWEM).

Both the EMOP and GWEM were established by the Electricity Regulations, 2008, L.I. 1937, with the mandate of the GWEM to facilitate wholesale trading of electricity and the provision of ancillary services in the National Interconnected Transmission System (NITS).

Dr Prempeh reminded the EMOP of their mandate to seek to monitor the general performance of electricity transmission, ensure smooth and efficient operation of the wholesale electricity market, monitor pre-dispatch schedules and ensure long-term optimisation of hydro-electricity supply sources in the country, among others.

He made it unequivocally clear that the people of Ghana expect nothing but the stability of their lights and, therefore, as an oversight panel he expects them to channel their energies and synergies in this direction.

According to Dr Prempeh his Ministry is taking the lead in looking at different options for rationalising electricity tariffs, to be recommended to the board of the PURC.

“We hope the rationalisation will have a positive effect on the bills users have to pay, especially local businesses,” he said.

As Minister, his noted that his doors are always open to frank discussions that will move the country’s electricity market and the energy sector as a whole forward.

He expressed confidence that the EMOP will discharge its duties diligently and contribute towards Government’s determination to building a robust and competitive power sector.