Ghana energy report

• Ghana is seeking to develop 1.5 GW of wind and solar by 2030.
• The Volta River Authority owns more than half of the country's electricity capacity.
• In 2019, the government revoked the 20-year concession for Electricity Company of Ghana.
• Oil and gas production has been increasing very rapidly since 2011.
• Electricity production is growing very rapidly (12%/year since 2015) and is increasingly based on gas.
• Since 2015, motor fuel prices follow international trends.
• Electricity prices in dollar terms have been decreasing rapidly because of the strong depreciation of the national currency.
• Total energy consumption is increasing rapidly since 2017.
• Households absorb almost half of the electricity consumption.
• The country aims to more than double its oil production by 2025. Almost 1 GW of gas-fired capacity is currently under construction.

• Institutions & Energy Policy

  The Ministry of Energy is responsible for the whole energy sector and replaced the former Petroleum and Power Ministries.

  The Natural Resources, Environment and Climate Change (NREC) Unit, which is part of the Ministry of Finance, oversees the climate policy.

• Energy Supply

  Oil:

  Oil production has tripled since 2011 and reached 10.4 Mt in 2019 (of which, +16% in 2019). The main areas of production in 2019 are Jubilee (45% of the total), Ten (31%), as well as Sankofa and Gye Nyame (24%).

• Energy Prices

  Oil:

  In 2015, the Government allowed oil distributors to fix pump prices. Previously, prices were regulated and subsidised. Gasoline and diesel prices in dollar terms declined by 7 and 9% in 2019 and by 5% in the first semester of 2020, in line with international oil prices; gasoline prices in dollar terms are slightly lower than in Ivory Coast (+9%), but around 50% higher than in Nigeria.

• Energy Consumption

  In 2019, total per capita energy consumption was 0.35 toe and electricity consumption was about 460 kWh/cap.

  Total energy consumption has increased very rapidly since 2017 (8.6%/year).

• Issues & Prospects

  To meet its economic growth, the country is working on important projects aimed at the diversification of its energy supply through the development of the use of natural gas and the construction of power plants, while continuing to develop its hydroelectricity and oil resources.

• GENERAL OVERVIEW
• INSTITUTIONS AND ENERGY POLICY
• ENERGY SUPPLY
• ENERGY PRICES
• ENERGY CONSUMPTION
• ISSUES AND PROSPECTS
• DATA TABLES
• ABBREVIATIONS
• GLOSSARY

Download the Table of Contents

Below is a list of the Ghana energy market report graphs:

• GRAPH 1: CO₂-energy emissions (MtCO₂)
• GRAPH 2: Installed electric capacity by source (2019 %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2019, %)
• GRAPH 5: Gasoline & diesel prices (US$/l)
• GRAPH 6: Electricity prices for industry and households (USC/kWh)
• GRAPH 7: Consumption trends by energy source (Mtoe)
• GRAPH 8: Total consumption market share by energy (2019, %)
• GRAPH 9: Final consumption market share by sector (2019, %)

In the Ghana energy market report you will find the following tables:

• Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO₂ emissions.
• Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
• Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
• Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
• Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.