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Ghana energy report

This analysis includes a comprehensive Ghana energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With 2019 market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.

Ghana energy report
Update: 
November 2020
Format: 
3 files (PDF report, 2 Excel files)
Pages: 
33 (Report only)
Delivery: 

Immediate by e-mail

Price: 
 790 € 

Price without VAT. Depending on your statute and location, VAT might be applicable. Get in touch with us for more information.

After validation, you will immediately receive 3 files by email (one pdf report and 2 excel files containing the datasets).

 

Highlights

  • 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.

40%

share of hydro in electricity production in 2019 (69% in 2010)

x3

oil production since 2011

x2.4

electricity capacity since 2010

Abstract

  • 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

    Gas:

    Gas production has doubled since 2015 and reached 1.5 bcm in 2018 (+70%).

    Ghana started commercial gas production from the Jubilee field in 2014 after the completion of a US$1bn gas processing plant. The plant has a capacity of 1.5 bcm/year and is located about 130 km west of Takoradi.

  • Energy Prices

    Electricity:

    Due to the strong depreciation of the Ghanaian cedi, electricity prices in dollar terms dropped by 13%/year between 2017 and 2019. In 2019, electricity prices were higher in Ivory Coast (+18%) and in Nigeria (+19%) than in Ghana.

  • 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.

Table of Contents

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

Download the Table of Contents

List of Graphs

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, %)

List of Tables

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.

Data (Excel Sheet)

The Ghana energy market data since 1990 and up to 2019 is included in the Excel file accompanying the Ghana country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Ghana Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Ghana energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

The Ghana country report is complemented with a national power generation dashboard (excel file) from our Power Plant Tracker Service.

Data included in the excelsheet:

  • New capacities: Current power mix, installed capacity at date, capacity under construction and under development.
  • Power Sector Performances: Historical data on installed capacity, power generation, thermal power plants inputs, average thermal power plant efficiency, CO2 emissions of the power sector, carbon factor of the power sector.

 

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