The failure of the government to settle its outstanding arrears with Independent Power Producers (IPPs) has prompted an emergency meeting convened by the producers. The debt owed to the IPPs has risen from US$2 billion to approximately US$2.3 billion.
The meeting, set to take place on Thursday, July 27, 2023, aims to address the pressing issue of non-payment. Initially, the IPPs decided not to shut down their power plants that supply the national grid after engaging in what they believed were productive discussions with the Electricity Company of Ghana.
Despite assurances and the continuation of power production beyond the June 30 deadline, it seems that the agreements reached during those discussions have been violated, leading to disappointment among the IPPs.
The upcoming emergency meeting intends to devise a strategy to resolve the government’s debt and prevent potential power crises.
For now, the IPPs have chosen not to disclose specific details about their challenges, promising to provide further information after the Thursday meeting. As discussions unfold during the meeting, more insights are expected to emerge, shedding light on the difficulties faced by the IPPs and the potential impact on Ghana’s power supply.
Source – citinewsroom.com
