PIAC report reveals 36 per cent shortfall in ECG’s payments for Gas in 2023

The Public Interest Accountability Committee (PIAC) reported a 36% shortfall in the Electricity Company of Ghana's (ECG) 2023 payments under the cash waterfall mechanism (CWM) for gas.

ECG paid approximately GHS 250 million against the expected GHS 385 million, leaving outstanding debts of GHS 140 million for the year.

The CWM and Natural Gas Clearinghouse (NGCH) determine and disburse ECG's tariff revenue to stakeholders like the Ghana National Gas Company Limited (GNGLC) and Ghana National Petroleum Company (GNPC).

Despite allocations in July and August, ECG did not make payments, increasing GNGLC's debt to GNPC and threatening GNGLC's operational viability.