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Businesses track ECG on reimbursement promise

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Businesses are expecting that the Electricity Company of Ghana (ECG) would live by its assurance of implementing the reduction in electricity tariffs from the 1st of April as announced.

Even though the reduction has been initially scheduled to take effect today, ECG maintains consumers should see it reflect from next month due to the monthly billing system.

According to the PURC, consumers should benefit from the reduction starting today, March 15, 2018.

But at a media briefing, the Managing Director of the ECG, Engineer Samuel Boakye-Appiah stressed that his outfit could apply the changes at the end of the month due to the monthly billing system.

Non residential users comprising businesses are to pay between 25 and 30 percent less in electricity tariffs.

The CEO of the Association of Ghana Industries (AGI), Seth Twum Akwaboah explains that they are hopeful the power company will fulfill its plan.

“If that is the case, then it means it is a systems challenge and for that reason we cannot have too much qualms about it as long as the businesses could buy credit for the next two weeks and then the ensuing month when they buy, they are crediting, then that is fine, we should be able to accommodate it,” he said.

Similarly, mining companies are expecting a ten percent reduction in electricity tariffs.

Though the sector believes plans may have been distorted a little, the Director of Communications at the Chamber of Mines, Ahmed Naatogmah says they will still comply with the directive.

“Definitely you were expecting something to start so you would have planned for it but I wouldn’t say we are disappointed. Unless of course at the end of the process the reimbursement is still not done, then we can have some concerns to raise,” he argued.

Meanwhile the ECG has indication that it will not hesitate to go back to the PURC to demand an upward adjustment in the tariff if the implementation of the tariff reduction leads to losses.

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

Citi Business News