A nine Member Board for the Ghana Grid Company (GRIDCo) has been inaugurated in Accra.
The Board is under the Chairmanship of Mr Kabral Blay-Amihere, a former diplomat and also a former Chairman of the National Media Commission.
Members include Mr Jonathan Amoako-Baah, the Chief Executive Officer of GRIDCO and Nana Henry Kofi Nti, a traditional ruler.
The rest are Madam Dzifa Amegashie, Mr Kenneth Kwamina Thompson, Mr Nicholas Kwabena Smart-Yeboah, Air-Vice Marshal I. S. Kadri (retired), Naana Eyiah and Mr Frederick Fredua Antoh.
The GRIDCo was established in accordance with the Energy Commission Act, 1997 (Act 541) and the Volta River Development (Amendment) Act, 2005 Act 692, which provides for the establishment and exclusive operation of the National Interconnected Transmission System by an independent Utility and the separation of the transmission functions of the Volta River Authority from its other activities within the framework of the Power Sector Reforms.
Mr William Owuraku-Aidoo, Deputy Minister of Energy, in-charge of Power, in his address tasked the new board of directors of GRIDCo to work together with Management to turn the fortunes of the nation’s flagship Company around for the enhancement of the power sub-sector.
He said the President wants to see high performing organisations in the power sector; therefore, it was the responsibility of the Board to support it to develop long- term plans and deploy resources for the effective management of its potentials and threats.
He said GRIDCo had performed very well in its formative years within the electricity production value-chain.
He explained that, as a result of the build-up of receivables and a high level of cross indebtedness within the sector, it had found it very difficult to pursue most of the projects it is implementing to get the grid closer to the load centres.
“One main task, which is quite urgent is to see the establishment of the Wholesale Electricity Market, which in my opinion, will drive down tariffs and give comfort to customers and make us competitive in the sub-region through the West African Power System,” he stated.
Mr Owuraku-Aidoo said GRIDCo had potential for additional revenue for the releasing of its excess fibre optic network and maintenance of their capacitors, transformers and other switchyard equipment.
Mr Blay-Amihere on behalf of his colleague Board Members expressed gratitude to President Nana Addo Dankwa Akufo-Addo for the confidence reposed in them.
He said the Board would ensure that GRIDco played its part as a major cog in the energy sector, to let all the light shine in our homes, factories, offices, schools, farms and wherever light was needed, in collaboration with other players; both private and state in the sector.
Mr Asamoah Boateng, the Chairman of the State Enterprises Commission congratulated members of the Board upon their assumption of office.
He said the Commission would be organising training programmes for Boards and Managements of state enterprises on best international corporate governance practices and financial reporting and its analysis.
Mr Lawrence Apalse, the Chief Director of the Ministry of Energy, lauded GRIDCo for being the state flagship Company in the energy sector.
Mrs Anita Lokko, Deputy Director, Legal Department of the Ministry of Energy, administered the oath of Office and Secrecy to members of the GRIDCo Board.