Business News of Tuesday, 13 April 2021Source: www.ghanaweb.comExecutive Director for the Africa Center for Energy Policy, ACEP, has disclosed that Ghana is currently losing US$2.5 billion as a result of the failure of government to fully utilize capacitor banks amid the current power crisis. According to Benjamin Boakye who was speaking on Citi FM’s Point of View program on Monday evening monitored by GhanaWeb, aside the financial savings that government could make, there was also an element of power that could be saved with full utilization of capacitor banks. “The capacitor bank regulates (that) voltage to ensure that when the demand is rising, it is producing enough power... it provides the needed voltage when people turn on their equipment. "What that means simply is that by not having those capacitor banks functional, we are losing about 2.5 million dollars of revenue every single month,” adding that according to current prices, a new capacitor bank on the market costs around US$10 million. The capacitor banks essentially are system infrastructure that allows an operator to regulate electrical voltage because people are plugging into the electricity system and operators are not able to know who is coming on to use what.

Source: GhanaWeb April 13, 2021 06:33 UTC