Home Business Intervention by govt appreciated – ECG says following ‘debt payment’

Intervention by govt appreciated – ECG says following ‘debt payment’


The Electrical power Corporation of Ghana (ECG) has clarified its placement on the assertion by the Vitality Ministry that money owed owed the company by the authorities had been paid.

This follows opposition by some users of the Minority contesting the veracity of the assert.

The Electrical power Minister, Peter Amewu May perhaps 20, revealed that the authorities, at the end of 2019, compensated all of its expenses to the Electric power Organization of Ghana (ECG), leaving a credit of ¢500,000.

The corporation, in a assertion launched Thursday, May 21, 2020, reported discussed that government “averagely paid out GHC2 billion instantly to ECG’s suppliers (i.e VRA, IPPs and GRIDCo) to defray GoG’s indebtedness to ECG.”


The statement signed by Running Director Kwame Agyemang-Badu further more discussed that this payment as at the close of 2019 leaves a credit rating harmony of GHS505.8 million.

“Considering the GoG’s ordinary invoice of GHS100 million a month, the remarkable GoG credit history of GHS505.8 million is plenty of to spend its monthly bill for January to April 2020.”

An sum of GHC4.14 billion has also staying paid “directly to several fuel suppliers and electric power producers and is still to be credited to GoG’s account less than the ongoing reconciliation work out.”

The ECG, however, expressed appreciation to the govt “because the company’s stability sheet is now much better than just before.”

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