Accra, Dec. 21, GNA - The Energy Foundation is introducing energy conservation measures at the country's universities and the Ghana Institute of Management and Public Administration to save the institutions approximately 250 million cedis per month on their electricity bills.

The Foundation is also considering the introduction of these measures in the banks, Police and Army barracks, hospitals and other government institutions based on the success of the project. Mr Andrews Evans Quayson, Chairman of the Executive Council of the Foundation speaking at the 7th Annual General Meeting of the Council said the Government would provide funds to install capacitor banks at the institutions at a cost of 1.9 billion cedis.

Mr Quayson said this was made possible through the completion of a pilot project that began in 2003, to retrofit 21 government buildings in Accra with energy efficient lighting, control systems for air conditioners and capacitors to improve their power factor.

The project undertaken at the cost of US 270,000 dollars with support from the governments of Ghana and Netherlands would save Ghana US110,404 dollars in electricity bills annually, he added. Mr Quayson noted that to stop the country from becoming a dumping ground for inefficient appliances, the Energy Foundation and Ghana Standards Board had developed a programme on Appliance Energy Efficiency Standards and Labelling supported by a Legislative Instrument passed in November this year by Parliament.

He said the years ahead would present enormous challenges in view of the increased crude oil prices and the global warming phenomenon. These challenges, he said, presented the Foundation with significant opportunities to bring its considerable experience to bear in helping industry and the nation stay competitive in a more globalised economy with minimal impact on the environment.

Mr Festus Mantey, Partner of Benning, Anang and Partners who audited the accounts, noted that proper books of account had been kept and the financial statement prepared in accordance with the Ghana Accounting Standards, gave a true and fair view of the state of affairs of the Foundation as at December 31, 2004.