Tag: Energy sector debt
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Govt to engage IPPs next week over unpaid arrears
The government and the Independent Power Producers (IPPs) are set to have a meeting regarding the outstanding debts owed the producers. This meeting comes in response to a letter from the IPPs to the government, in which they threatened to suspend power supply starting from July 1, 2023, if an interim payment of 30% of…
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Pay IPPs; consider renewable energy to reduce cost – IES to Gov’t
The Institute for Energy Security, IES, wants government to provide at least half of the $1.4 billion dollars owed Independent Power Producers to curtail a possible shutdown of their plants. Executive Director of the Institute, Nana Amoasi the 7th, says there would be dire consequences for power supply in the country if the IPPs carry…
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Processes ongoing to settle GRIDCo’s debt – Deputy Energy Minister
A Deputy Minister of Energy, Joseph Cudjoe, says the Ministry of Finance working to ensure that the energy sector debt, particularly that of the Ghana Grid Company, GRIDCo, is settled. Workers of GRIDCO on Tuesday petitioned the Ministry of Finance and the Electricity Company of Ghana, ECG, after demonstrating in Accra over the Ghc1.2 billion…
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GRIDCo workers demonstrate over Ghc1.2bn debt; threaten a strike soon
After suspending emergency services for a while in protest against huge debts owed the company, members of the Senior Staff Union of the Ghana Grid Company (GRIDCo), on Tuesday staged a demonstration in Accra against the Ministry of Finance and the Electricity Company of Ghana (ECG) over the company’s huge debts. The protesters, who massed…
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Settle power sector debts to halt imminent GRIDCo strike – Minority charges Gov’t
The Minority in Parliament has asked government to immediately take steps to settle the power sector debts affecting the operations of the Ghana Grid Company (GRIDCo). At a press briefing on Thursday, Senior Staff and the Divisional Union of GRIDCo announced a withdrawal of emergency services. The Senior Staff and the Divisional Union is frustrated…
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IFS demands detailed breakdown of energy sector debt
The Institute for Fiscal Studies (IFS) is demanding that the government publishes a detailed report on the monies it owes to companies in the energy sector. According to the Finance Minister Ken Ofori-Atta in the mid-year budget, agreements signed between previous government and power producers is costing the country at least US$500 million per annum…
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Parliament calls for urgent measures to address mounting energy debt
Parliament has called on the Minister of Finance and the Minister of Energy, Mr John Peter Amewu to as a matter of urgency, activate the cash waterfall scheme and other prudent measures to address the debt accumulation in the energy sector. The lawmakers further called on the Minister of Finance, Mr Ken Ofori Atta…