Business News of Monday, 25 November 2019Source: www.ghanaweb.comWithdrawal of GRIDCO’s emergency services will derail the economy - EconomistGideon Ofosu, Deputy Director of Africa Center For Energy And Environmental Sustainability (ACEES)Natural Resource Economist, Gideon Ofosu-Peasah, has stated that there will be an adverse effect on livelihood and the economy should Ghana Grid Company (GRIDCo) withdraw its emergency services in the country. Gideon Ofosu-Peasah stressed that there is no major power supplier in the country apart from GRIDCo hence halting its power services to institutions such as the Electricity Company of Ghana (ECG), VALCO will cut power stability. According to Mr Ofosu-Peasah, there is a direct relationship between energy and economic growth adding that in Ghana, the more consumption of power, the more the economy experiences positive growth. “Once they withdraw emergency services, there will be regular power outages. A negative effect, he said, will only hike inflation rate because of fueling a generator as an alternative for production.

Source: GhanaWeb November 25, 2019 15:14 UTC