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The Ministry of Energy Inaugurated eleven board members who are (1) Micheal Opam Chairman,
(2) Executive Secretary of EC member
(3) Executive Secretary of PURC member
(4) Chief Executive of GRIDCo member
(5)Head of System Operation, GRIDCo member

(6)Ebenezer Baiden member
(7)Samuel K. Desouza member
(8)Nana Osae Nyampong member
(9)Abubakari Obuama member
William Amuna member
(11) Eric Kyem Administrator, of the Electricity Market Oversight Panel EMOP at their head office in Accra today.

Hon. Boakye Agyarko who is the Minister of Energy in his speech said that, "A well though through electricity market structure with a corresponding division of roles and responsibilities between entities is key to enduring orderly and structure growth of the power sector, based on sound, efficient and competitive principles. The Electricity Regulations 2008 (L.l. 1939) which defines a unique wholesale Electricity market (WEM) for Ghana has been in existence for over 9 years now."

According to him,The WEM structure is unique because it provides for a bilateral market which is intended to give sanctity to bilateral contracts contrary to what pertains now and also a spot market in which the comparatively cheaper legacy hydro and other available but not for contract sources of electricity will be sold at the system marginal cost."

Hon. Agyarko made it cleared that, The lack of synergy between sector institutions to operationalize a structured WEM as per the L.l. 1937 has contributed to some of the nagging issues in the sector especially the issue relating to the pricing of the legacy hydro. Governance of the WEM has therefore become critical.

The Electricity Market Rules which is the main governing document of the WEM is to be administered by the Transmission Utility (GRIDCo).
The L.l. 1937 provides for the establishment of the Electricity Market Oversight Panel (EMOP) as an oversight body to supervise the administration and operation of the WEM by the Transmission Utility and advise the Enemy commission according. Finally, the EMOP is being inaugurated today to commence operations immediately. This gives credence to our commitment to build a robust and competitive power sector. "

The functions of the EMOP are:
a) to monitor the general performance of the market administration functions of the Utility

b)to ensure the smooth operation of the wholesale electricity market,
c)to review the operations of the wholesale electricity market and studies related to the development of the market,
d)to review procedures, manuals and electricity market rules for the operation of the wholesale electricity market,
e)to monitor pre-dispatch schedules,
f)to resolve disputes referred to it by market participants in respect of transaction in the wholesale electricity market

g)to ensure effective and consistent application by the Utility of the rules and standards of the wholesale electricity market

h)to ensure the long term optimization of hydro- electricity supply sources in the country

I)to make appropriate recommendations to the commission in respect of the panel's functions

j)to perform any other function conferred on it by the commission,he said. "

In conclusion,Hon. Boakye Agyarko said, I wish to task the EMOP to prioritize the optimization of the depleting hydro resources of the country, ensure the finalization of the various manuals and other governance documents of the WEM and work to restore confidence in the power of Ghana to attract the needed investment."

Reporter Kofi Dwumah/

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