Finance Minister Dr. Cassiel Ato Forson has reported major improvements in the operations and revenue of the Electricity Company of Ghana (ECG) as part of broader reforms in the energy sector.
Presenting the 2026 Budget Statement to Parliament on Thursday, November 13, Dr. Forson highlighted how strategic measures have strengthened the utility’s financial position.
“Solar tariffs for projects like BXC and Meinergy have dropped from 18 to 6.5 cents per kilowatt-hour, cutting costs and expanding access. The Electricity Company of Ghana’s revenue has risen almost 90 percent, from GH¢900 million to GH¢1.7 billion, thanks to better enforcement of the Cash Waterfall Mechanism,” he said.
Dr. Forson explained that the increase in revenue is part of a wider effort to stabilize Ghana’s energy sector, reduce operational inefficiencies, and ensure timely payments to Independent Power Producers.
“Government is now fully current on payments, clearing US$300 million in 2025 and allocating US$345 million for 2026. For the first time, we are not accruing new arrears in the energy sector,” he added.
The Finance Minister described these achievements as a demonstration of how fiscal discipline, renegotiated contracts, and effective management are turning Ghana’s energy sector into a more reliable and sustainable system for households and businesses alike.
Source: Starrfm.com.gh
