Karpowership will save electricity users $170.5 million annually - President Akufo-Addo

President Akufo-Addo says the switching of the Karpowership to natural gas will save electricity users an amount of $170.5 million per year, and a projected amount of $1.2 billion over the remaining term of the contract.

He said in line with government's policy of promoting the use of gas as the primary fuel for power generation, the 450-megawatt Karpowership is now running natural gas, instead of Heavy Fuel Oil (HFO), for the generation of electricity.

In a post on Facebook on Sunday, December 8, 2019, the President said:

“In line with government's policy of promoting the use of gas as the primary fuel for power generation, the 450-megawatt Karpowership is now running natural gas, instead of Heavy Fuel Oil (HFO), for the generation of electricity.

“This follows the relocation of the Karpowership from its original location in Tema to the Sekondi Naval Base, in the Western Region, and the successful conversion of 90% of its engines to run on natural gas. As a result, Ghana will save a monthly take-or-pay cost of $40 million, resulting in projected annual savings to the country of $480 million.

“Specifically, the switch of the Karpowership to natural gas will save electricity users an amount of $170.5 million per year, and a projected amount of $1.2 billion over the remaining term of the contract, by way of reduced electricity charges to consumers.

So, on Saturday, 7th December, 2019, I turned on the valves for the use of natural gas for electricity generation on the Karpowership.”