Manteaw advocates retention of PURC as independent multi-sector regulator
He argued that these mergers could benefit the state only if the government prioritises the interests of the companes to ensure clean balance sheets
The co-chair of the Ghana Extractive Industry Transparency Initiative (GHEITI), Steve Manteaw, has advocated for the Public Utilities Regulatory Commission (PURC) to maintain its independence due to its vital regulatory role.
His recommendation follows discussions about a draft bill proposing the merger of VRA with Bui Power and the fusion of ECG with NEDCO.
He argued that these mergers could benefit the state only if the government prioritises the companies’ interests to ensure clean balance sheets
However, industry stakeholders have voiced concerns about frequent regulatory changes that disrupt planning and investment. Staff groups from the Volta River Authority have also expressed strong opposition to the proposed restructuring.
In an interview with Asaase Business, Manteaw emphasised that the merger’s success hinges on the government’s avoidance of conflicts of interest and the retention of PURC as an independent multi-sector regulator.
“The controversy surrounding this decision largely stems from a deep-seated mistrust of government actions. When such decisions are made, there’s often a perception that they are driven by vested interests rather than the national good.”
“This recurring pattern of perceived self-interest over public benefit has led to widespread skepticism, even if the intentions behind the decisions are not always negative. If we could trust that our government acts in the state’s best interest, there would clearly be a strong business case for merging the energy sector entities”
He added “However, I believe the PURC should remain an independent regulatory body. There are rumors suggesting it might be absorbed into the Ministry of Energy, but I argue that this would undermine the regulator’s ability to function effectively. To ensure impartiality and fairness, a regulator needs job security for its staff and operational independence, free from executive control”
Reporting by Nana Agyemang Prempeh in Accra
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