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    Pay us by borrowing from treasury bill market- Pensioner bondholders reiterate calls to govt

    Ghana’s energy sector needs audit to ascertain debt levels – COPEC

    Sole implementation of cylinder recirculation model threatens our investment – LPG Operators

    Mobile money disrupted banking in Ghana – Zeepay CEO

    Independent Power Producers demand 30% payment of arrears

    We are confident of meeting IMF conditions for fiscal consolidation – Ofori – Atta

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    Mobile money disrupted banking in Ghana – Zeepay CEO

    Ghana’s oil reserve recording steady growth – GNPC CEO

    Fuel pricing: COPEC predicts marginal drop in first window of June 2023

    ACEP pushes for research in Africa’s energy sector

    African leaders urged to employ energy policies that will transform Africa

    COVID -19 levy must be abolished – Importers & Exporters insist

    Halt implementation of utility tariffs increment- FABAG tells govt

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    Strengthen Financial Stability Fund to support struggling banks – Dr. Atuahene

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    Cyber Security Authority mandate critical to country’s development – Joseph Cudjoe

    MTN shareholders given choice to convert dividend or take cash

    Ghana gets $300 million from US to build first-of-its-kind data center

    Telcoms industry players urged to partner government to promote clean energy transition

    Dominion University To Partner With USA Organisations To Set Up Centre Of Excellence For Artificial Intelligence

    Cyber Security Authority commences licensing and accreditation regime

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    Mining propels Ghana to beat growth estimates in fourth quarter

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    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

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    Medical devices market projected to expand by $ 7.1 billion by close of year

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    Pay us by borrowing from treasury bill market- Pensioner bondholders reiterate calls to govt

    Ghana’s energy sector needs audit to ascertain debt levels – COPEC

    Sole implementation of cylinder recirculation model threatens our investment – LPG Operators

    Mobile money disrupted banking in Ghana – Zeepay CEO

    Independent Power Producers demand 30% payment of arrears

    We are confident of meeting IMF conditions for fiscal consolidation – Ofori – Atta

    Fuel pricing: COPEC predicts marginal drop in first window of June 2023

    ACEP pushes for research in Africa’s energy sector

    Cyber Security Authority mandate critical to country’s development – Joseph Cudjoe

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    Mobile money disrupted banking in Ghana – Zeepay CEO

    Ghana’s oil reserve recording steady growth – GNPC CEO

    Fuel pricing: COPEC predicts marginal drop in first window of June 2023

    ACEP pushes for research in Africa’s energy sector

    African leaders urged to employ energy policies that will transform Africa

    COVID -19 levy must be abolished – Importers & Exporters insist

    Halt implementation of utility tariffs increment- FABAG tells govt

    Govt maintains COVID-19 levy despite calls for removal

    Strengthen Financial Stability Fund to support struggling banks – Dr. Atuahene

  • TECHNOLOGY

    Cyber Security Authority mandate critical to country’s development – Joseph Cudjoe

    MTN shareholders given choice to convert dividend or take cash

    Ghana gets $300 million from US to build first-of-its-kind data center

    Telcoms industry players urged to partner government to promote clean energy transition

    Dominion University To Partner With USA Organisations To Set Up Centre Of Excellence For Artificial Intelligence

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

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    Mining propels Ghana to beat growth estimates in fourth quarter

    BoG pushes for improvement in IMF’s lending framework to boost continent’s access to resources

    Foreign exchange: Several African countries have a shortage of US dollars – why this happens and how to fix it

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

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Debt owed ECG paid up to December 2019 – Energy Minister

byNerteley Nettey
May 19, 2020
in Local Economy, Top Stories
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The Minister of Energy, John Peter Amewu, says government has paid all its debt owed the Electricity Company of Ghana, ECG, up to December 2019.

According to the Minister, government paid GHS 2 billion annually to cover its bills.

Speaking at a press briefing by the Information Ministry,on Tuesday, May 19, 2020, Mr. Peter Amewu said debts that had existed up until December 2019 have been fully paid.

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This, he says, has given government a credit balance of GHS 500 million to cover bills up to April this year.

“The NPP government on assumption of office ensured that it was current on all bills incurred during its tenure from 2017 to date. On the average, the government under His Excellency Nana Addo Dankwa Akufo-Addo has paid GHS 2 billion annually to cover its bills with the Electricity Company of Ghana. Today, at the end of 2019, all government bills with ECG had been paid and government had a credit balance of 500 million Ghana Cedis with ECG. With an average bill payment of about 100 million per month, the credit balance of over 500 is enough and more than enough to pay for government bills from January to April 2020,” he said.

Following the negative impact of the novel Coronavirus on businesses and individuals, government earlier this year, announced that it is expected to cumulatively spend GHS1 billion to absorb the electricity bills of Ghanaians for April, May and June.

This is part of measures to offer some relief to consumers.

The package will cover over 86 percent of individual consumers and industries on the national grid as well as the electricity bills of consumers of the Electricity Company of Ghana (ECG), the Volta River Authority (VRA) and the Northern Electricity Distribution Company (NEDCo).

NDC messed up Ghana’s energy sector – Dr. Amin Adam

Earlier this year, Government attributed the increased debt in the energy sector to some policy decisions approved by the previous National Democratic Congress (NDC) government.

According to them, in January 2017 when the NDC handed over power, the Bulk Oil Storage and Transport Company Limited (BOST) owed $624 million to suppliers, Bulk Oil Distribution Companies (BDCs) and related parties in respect of crude oil imports for processing at TOR, as well as refined products which got lost from BOST tanks.

He explained that the NPP government has settled $567 million, saying “as at February 2020, the outstanding amount to settle to clear the books now stands at $57 million.”

Electricity subsidy must be targeted to sustain power sector – ACEP

Meanwhile, the Africa Centre for Energy Policy, (ACEP), has warned that government’s introduction of a complete waiver will, “endanger the sustainability of the power sector now and after the COVID-19 pandemic.”

According to them, though the gesture by government is benign, not everybody needs the subvention.

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Ghana’s energy sector needs audit to ascertain debt levels – COPEC

Sole implementation of cylinder recirculation model threatens our investment – LPG Operators

Mobile money disrupted banking in Ghana – Zeepay CEO

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We are confident of meeting IMF conditions for fiscal consolidation – Ofori – Atta

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