Evaluation of Energy Security Situation and Related Policies Using Country Comparative Analysis

Abstract

The frantic efforts by successive governments to provide adequate supply of energy to facilitate socioeconomic development are yet to yield the expected results. Ghana continues to suffer from electricity supply outages and shortages in petroleum products as well as in crude oil and gas. The reckless exploitation of the forest continues to deplete the forest cover at an alarming rate. Consequently, this study aimed to assess the energy security situation of Ghana, examine the effectiveness of the policies on energy security, and develop policy recommendations therefor. This study employed the composite energy security index developed by B. K. Sovacool (2011) to compare Ghanas energy security situation with those of 34 other countries — ASEAN, USA, EU, Japan, South Korea, China., India, Oceania, and 17 African countries — over a 20-year period. These metrics were captured under the categories of availability, affordability, technology development and efficiency, environmental sustainability, and regulation and governance. The top five performers were Brunei (273), Japan (260), New Zealand (254), USA (253), and EU (252) while the five worst performers were (from the bottom) Tunisia (123), Libya (124), Algeria (127), Egypt (128), and Morocco (132). Ghana was 17th, with a score of 185. The best-performing African countries were Congo DR (201), Cameroun (201), Angola (200), Tanzania (199), and Zambia (187). Ghana was the sixth best performer amongst the African countries. Also, the study revealed that a time-bound strategic plan, tax relief, and regulatory instruments have a positive influence on energy security. The second part of the study assessed the performance of Ghanas energy security indicators between 2001 and 2012, the most eventful period in the energy sector of Ghana. The indictors were selected with recourse to the National Energy Policy of Ghana. Ghana had negative trends for oil intensity, non-carbon fuel portfolio, CO2 emission, CO2 emission per capita, and energy import. Consequently, to reverse these trends, it is imperative to review the existing policies with recourse to the international best practices.