ECG rejects claims of non-compliance with Cash Waterfall Mechanism

The Electricity Company of Ghana (ECG) refuted claims of failing to meet payment obligations under the Cash Waterfall Mechanism (CWM) for May and August.

ECG highlighted five key points: stakeholders failed to confirm actual payments; it complied with Tier 2 payments, including to the PURC; initiated payments for July and August; forex losses due to exchange rate discrepancies impacted compliance; and fuel costs, with ECG spending GHS 466 million on liquid fuel due to supply challenges, were not accounted for in the CWM.

ECG urges stakeholders to consider these factors before questioning its financial integrity.