The Independent Power Producers of Ghana (IPPs) are demanding the mid-year budget allocates specific funds for the Electricity Company of Ghana to clear all outstanding debts owed them.
The IPPs who suspended an initial decision to shut down their machines a few weeks ago say they have only received 12% of receivables due them this year with ECG’s debt to the power producers set to hit 2.3 billion dollars.
The Chief Executive Officer (CEO) of the Chamber of Independent Power Producers, Elikplim Kwabla Apetorgbor indicated that they have been starved for far too long.
“Unless there is specific provision aside from the supplementary budget I expect the budget allocation to support ECG to pay the arrears to Independent Power Producers.
“We have been starved needlessly for almost seven months into the year. If not for the good faith that we have towards our clients or contract you can imagine what the outcome will be,” Mr. Kwabla Apetorgbor stated.
He continued: “For the seven months in succession we have paid an average about 12 percent of our monthly invoices. By our estimation by close of business today we expect our arrears to scale up to about 2.3 US dollars.”