Mines and Energy Committee, others to meet IPPs to tackle debt crisis
In a move to tackle an imminent power crisis, Samuel Atta Akyea, Chairman of the Mines and Energy Committee of Parliament, has announced the scheduling of a crucial meeting set to take place early next week, potentially on Monday or Tuesday.
The meeting, which will involve the committee, Independent Power Producers (IPPs), and the Electricity Company of Ghana (ECG) is aimed at addressing the concerns raised by the IPPs regarding the significant outstanding debts that pose a threat to the stability of the national grid.
Recognizing the severity of the situation, Samuel Atta Akyea stressed the urgent need for collaborative action among key stakeholders.
In an interview with Citi Business News on the sidelines of a Stakeholders Roundtable Discussion on Energy transition organised by Ghana National Gas Company, Mr. Atta Akyea said “it is crucial for the Minister of Finance, the Boards of ECG, and the committee to establish a clear roadmap for resolving this matter. We must avoid a situation where the government is pressured into taking actions that could be perceived as blackmail.”
“We need a comprehensive plan to prevent such a scenario. Our goal is to bring all stakeholders together, including the Committee of Mines and Technology, the Minister of Finance, and the ECG boss. The IPPs have effectively communicated their position, and we are fully aware of it. What matters now is finding a solution, and we believe the finance minister and ECG boss are key to achieving this. We will be scheduling a meeting soon, possibly on Monday or Tuesday,” he stated.
The IPPs which control about 50 percent of the country’s generation mix had highlighted that this debt has hindered their access to working capital, preventing them from financing crucial inputs such as chemicals for water treatment in thermal generators and other supplies, many of which are priced in foreign currency, primarily the US dollar.
Source: Ghana Business
