General News of Monday, 27 May 2024
Source: Joy News
The PURC has confirmed ECG's adherence to the Cash Waterfall Mechanism for March 2024, allocating over GHS 1 billion to settle invoices.
ECG disbursed GHS 620 million to IPPs and WAPCo, comprising 62% of its revenue.
The remaining GHS 334.8 million went to Level B beneficiaries. This is the first time ECG fully compensated Level B beneficiaries since the revised CWM.
However, the Ministry of Finance has not covered shortfalls since August 2023, with March 2024 having a GHS 159.9 million shortfall, prompting ongoing discussions with the PURC to ensure obligations are met.