ECG owes Bui Power Authority $600 million

The Public Accounts Committee (PAC) of Parliament has expressed worry over the about $600 million Electricity Company of Ghana’s indebtedness to the Bui Power Authority.

The Auditor General’s Report had revealed that the Electricity Company of Ghana (ECG) failed to abide by its monthly payment plan, which resulted in the outstanding debt as of December 31, 2022.

Per the report, the cash flow of the Authority could negatively be impacted if ECG continued to breach the agreed payment terms.

Meanwhile, at PAC’s Public hearing, Mr Kofi Dzamesi, the Chief Executive Officer, Bui Power Authority, said efforts were being made to recover the money.

“I think that what the auditors say is very true, and we are taking steps to ensure that ECG pays us. But it’s becoming very difficult,” he said.

Mr Dzamesi told the Committee that he was happy with how Dr Matthew Opoku Prempeh, the Minister of Energy, asked the Ministry of Finance to go to the Ministry’s aid when the need arose.

“So, we will continue this negotiation and with the support of our minister, I think we will be able to handle this matter. But it’s a problem,” he said.

Members of PAC, therefore, recommended to the Finance Ministry to ensure that ECG settled its debt to Bui and the Volta River Authority.