The Independent Power Producers (IPPs) have threatened to shut down, but no money has yet been given to them, according to the Managing Director of the Electricity Company of Ghana (ECG).
Samuel Dubik Mahama claims that because the IPPs have been given the amount of assurance required to conduct business in the nation, they are now at ease. He claims that the IPPs’ threat to shut down electricity plants was motivated by uncertainty.
He did, however, claim that a sum had been agreed upon with all IPPs as part of a favorable payment plan when speaking on JoyNews’ Newsfile on Saturday.
“Would you be surprised if I said we’ve not given them anything? We’ve agreed on numbers across board for everybody and everybody knows what they have to do and get back to us [ECG] by the middle of the week.
“When they do that, whatever needs to be credited to them will be credited to them immediately,” he told Samson Lardy Anyenini.
His remarks come after the IPPs threatened to shut down their facilities if the government did not pay 30% of the $1.73 billion debt owing to them.
In a message, the Ghanaian organization Chamber of Independent Power Producers (IPPG) instructed its members to shut down their facilities from July 1 until July 8.
However, the IPPs decided to postpone the scheduled closure of the power plants during a meeting with ECG on Friday.
Mr. Mahama stated that ECG “agreed to stay current” in accordance with the agreement made over the framework moving ahead with IPPs. So long as I pay my bills on time each month, you’re OK.
He continued “We used interim in two forms. The other one is that they [IPPs] are waiting to hear how the legacy debt issue is going to be addressed and what the formula or style would be for us to talk and move forward. But in truth, nobody wants to keep spending not knowing where the money is coming from. That is why we agreed on the way forward now and the way forward is comfortable for all of them so we are in good shape.”
Mr. Mahama said that ECG will make sure that the agreement to keep the IPPs current remains in place when questioned about the path to a long-term fix without which the IPPs will revert.
Again, he stated that “we would find a way to make sure what we’ve agreed in the new framework agreement goes forward.”