PIAC report reveals 36% shortfall in ECG’s payments for gas in 2023

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

ECG paid GH¢250 million, against an expected GH¢385 million, leaving GH¢140 million outstanding.

The CWM ensures tariff revenue distribution to stakeholders like Ghana National Gas Company (GNGLC) and Ghana National Petroleum Company (GNPC).

Despite allocations in July and August, ECG did not make payments, causing GNGLC's indebtedness to GNPC to rise, potentially threatening GNGLC's operational viability.