The Electricity Company of Ghana(ECG) could improve on its services and performance by making use of advanced technology, Mr. Cheng Yi, Chief Executive Officer of BXC, a privately owned Chinese company, has said.
Addressing a press conference on Wednesday, Mr Cheng said technology could support ECG to improve on realistic tariffs regarding electricity consumption, effective revenue recovery, and improvement in network systems, among others.
BXC has since 2011, been working with the ECG on a project aimed at reducing distribution system losses and improving the network.
“Our concept for this project is to invest into reducing ECG power losses. Our benefit is to share in the profit that is made as a result,” said Mr Cheng.
He said the cost recovery would be so immense, that enough profit could be made out of it to justify the huge investment BXC was sinking into the project.
“This kind of investment is very much needed in the electricity sector, to reduce ECG losses.”
Explaining the situation further, Mr. Cheng said the margin at which the ECG sold electricity to its customers was much higher than that of China and other advanced countries.
He said, “Yet ECG is still not making the expected returns. This is because of the power losses it makes.”
Mr. Cheng said the system that BXC was putting in place “gets you to know exactly where the money is going.”
He continued, “We would improve the network and fix more transformers that are efficient through replacing some of the old cables.”
He said BXC also had a monitoring system that observed every fixed meter, adding that the system was able to understand the performance of every meter.
“When your meter has a problem, our system would detect it. If someone is stealing power, it would also be detected,” said Mr. Cheng.
The BXC is a privately owned company, registered under the laws of Ghana.
It is a subsidiary of the Beijing Fuxing Xiao-Cheng Electronic Technology Stock Co Ltd, established in the year 2000.
Source: GNA
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