Government of Ghana has commenced the process of exploring new ventures towards releasing the Electricity Company of Ghana (ECG) to be managed by a private concessionaire, the Daily Graphic has reported.

The development comes after a similar decision failed with the takeover of ECG by the Power Distribution Service Limited (PDS) over various 'illegalities'.

Deputy Minister of Energy in charge of petroleum, Dr Mohammed Amin Adam explained that despite the government’s silence on the terminated PDS agreement, there are various developments proceeding to secure a new deal.

Dr Amin Adam indicated that the decision is geared towards making the ECG a much organised and gainful entity that backs economic progress.

According to the minister, the ongoing process to secure a new deal to manage the ECG would be one that offers an improved concession agreement than that of the PDS.

The Government of Ghana in October 2019 commenced processes to terminate the concession agreement between it and the PDS after its introduction in March 2019.

The move followed the announcement of the cancellation of the contract by the Minister of Finance, Ken Ofori-Atta after a meeting with officials of the Millennium Challenge Corporation (MCC).

The Electricity Company of Ghana (ECG) subsequently announced that it had assumed full control of the electricity distribution business in the southern part of Ghana.