The government’s inability to pay arrears owed Independent Power Producers (IPPs) despite assurances has forced the producers to convene an emergency meeting because the debt has risen from US$ 2 billion to about US$ 2.3 billion.
The meeting is set to take place tomorrow, Thursday, July 27, 2023.
The IPPs halted their planned shutdown of plants powering the national grid a month ago, citing what they said was fruitful engagements with the Electricity Company of Ghana.
As a result, the IPPs decided to keep the power plants running in July after their June 30 deadline expired.
However, Citi Business News sources suggest that the agreements have been breached, much to the disappointment of the IPPs.
The purpose of the meeting is to find a strategy for resolving the government’s indebtedness to avoid a power crisis.
The IPPs have remained tight-lipped about their predicaments, promising to provide fuller details after tomorrow’s emergency meeting.