Business News of Tuesday, 26 November 2024

Source: classfmonline.com

ECG promises uninterrupted power supply after resolving debt dispute with IPPs

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The Electricity Company of Ghana (ECG) has assured the public of uninterrupted power supply following successful negotiations with Independent Power Producers (IPPs) to address outstanding arrears.

This assurance comes after the IPPs threatened to shut down multiple power plants due to unpaid debts, sparking fears of a potential return to widespread power outages, locally known as "dumsor."

Speaking to the media, ECG’s External Communications Manager, Nii Ayiku Ayiku, confirmed that recent negotiations had averted the anticipated crisis.

"The Acting Managing Director has assured us that we are fully engaged with the IPPs to prevent any recurrence of the outages experienced over the weekend.

"We are confident that everything is on track," he stated.

According to reports, the government has reached a temporary agreement with the IPPs, paying off part of the debt and establishing a payment plan to settle the remaining balance.

This arrangement is expected to stabilize electricity generation and ease tensions within the energy sector.

While ECG has committed to maintaining a consistent power supply, industry stakeholders have called on the government to implement a sustainable financial framework to prevent similar disputes in the future and ensure the long-term reliability of Ghana’s energy supply.