ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS FOR 2013

Abstract

The growth and transformation of the Ghanaian economy continued in 2013. This has led to an increased use of electricity for lighting and for powering electrical appliances and equipment in homes, businesses and industries. Paradoxically, the country experienced challenges in the supply of light crude oil and natural gas for electricity generation. The volatility and price increase of crude oil in 2013 to a peak of US$ 105.43 per barrel made it difficult for wholesale electricity suppliers who depend on light crude oil for electricity generation. As a result of the high crude price, there was an upward adjustment to the average end-user tariff.