ECG indebtedness to Bui Power Authority escalates
The Electricity Company of Ghana, ECG’s debt to Bui Power Authority has increased significantly to 614 million dollars as at the end of 2022, from 386 million dollars at the end of 2019.
This was revealed when officials of the Bui Power Authority appeared before the Public Accounts Committee in Parliament.
The Committee is scrutinising the 2020 Report of the Auditor-General.
Deputy CEO, in charge of Finance and Service at the Bui Power Authority, Dr George Tettey told the Committee that the collection of receivables from ECG is one of the Authority’s major challenges.
Questioning the pricing of power to ECG in dollars, Energy Minister Dr. Mathew Opoku-Prempeh said the issue of dollarization in the Energy sector is the bane to Government’s debt to IPPs despite Bank of Ghana’s effort to curb dollarization.
Dr. Mathew Opoku-Prempeh said his Ministry is working with the Ministry of Finance to find a way out of the situation.
Reacting to the Debt owed Bui Power Authority, ECG said it is ensuring that the company improves on its revenue mobilization to help pay the necessary debt owed Bui Power Authority.