‘Which company can be viable if it loses US400million’, Energy Minister
Energy Minister, Dr. Matthew Opoku Prempeh, has indicated that the electricity company of Ghana lost about GH¢3.2 billion in illegal electricity connections.
During a press briefing on April 13, 2022, the minister stated that
Read full article“the amount of energy ECG is putting in the system, it is not getting the commensurate amount of money back to ensure that it becomes financially viable and companies that are relying on ECG for their finances also get enough money.”
“…Figures within ECG; there are commercial losses and there are connection losses; I mean theft, those who are stealing meters, those who are bypassing their meters, those whose meters are not working, and those who don’t have meters but also have electricity is costing ECG nearly GHC3.2 billion."
“Even in current exchange terms, over US$400 million. So, if ECG loses US$400 million, which company can be viable if it continues to lose that amount of money. And that ECG lose is our inability or unwillingness to pay all power theft,” he said.
Meanwhile, the Electricity Company of Ghana has begun disconnection exercises for some public institutions over accumulated debts.
“The Electricity Company of Ghana Limited wishes to inform its cherished customers and the general public that it will be resuming its normal revenue mobilization exercise effective 12 April 2021,” the ECG statement said.
