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24-hour economy: Businesses to get smart meters for less tariff charges – Mahama

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Businesses that join the 24-hour economy would benefit from sophisticated smart meters calibrated to charge lower prices per kilowatt hour for power during off-peak hours, according to John Dramani Mahama, Flagbearer of the National Democratic Congress (NDC).

In a New Year speech to Ghanaians, President John Dramani Mahama stated that his administration intends to provide cheaper and more dependable electricity to businesses that would engage in the 24-hour economy.

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According to him, the implementation of these smart meters intends to reduce the high cost of operations while also increasing the competitiveness of Ghanaian enterprises.

“My government will provide cheaper and more reliable electricity for those participating businesses based on a time-of-used tariff system. Companies that sign up for the 24-hour economy will benefit from modern smart meters calibrated to charge a lesser tariff per kilowatt hour for power that is consumed during off-peak hour,” John Dramani Mahama said.

The 24-hour economy is essentially an economic strategy that entails putting in place mechanisms to ensure that firms in various sectors of an economy run both at night and during the day.

In other words, a night economy and a day economy would exist.

By providing an enabling environment that encourages productivity, competitiveness, and well-paying jobs, the 24-hour economy will also be in a three-shift structure of 8 hours each.

Essentially, firms must implement methods to guarantee that they are open 24 hours a day, seven days a week.

The concept aims to make the economy as dynamic during the day as it is at night in order to provide additional job possibilities.

These methods include hiring more people and implementing a shift system.

Since John Mahama discussed implementing it, he has received both harsh criticism and praise from various parts of the people.

 

 

 

 

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