HomeNewsLocal NewsECG sends SoS message to IPPs over $1.4billion debt

ECG sends SoS message to IPPs over $1.4billion debt [Audio]

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The Electricity Company of Ghana (ECG) has said it remains committed to settling its debt owed Independent Power Producers (IPPs).

The nine companies have said ECG owes them about the cedi equivalent of $1.4 billion as of last month.

The Independent Power Generators, Ghana (IPGG), formerly known as the Chamber of Independent Power Producers, Distributors and Bulk Consumers said that the government must pay up at least the overdue debt which constitutes more than half of the indebtedness.

Reacting to this on Asempa FM’s Ekosii Sen, Head of Communications, William Boateng said they were genuine concerns.

However, he stated some of these debts were legacy and have spanned several decades.

Mr. Boateng said the ECG’s revenue mobilisation exercise to settle their debts.

“It is a known fact that we owe the power producers, and it is the reason we are embarking on revenue mobilisation to enable us to raise some good money owed us so we can, in turn, settle our indebtedness to the power producers.

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“We are keen to do something about it, so we both stay in business, as production, supply and distribution are very critical to our business,” he assured.

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