The Electricity Company of Ghana has moved to throw more light on the issues regarding the government’s payment of debts they owed them.
They released a statement to say that indeed the government has paid off the debt but it was done indirectly.
Portions of their statement read “averagely paid GHC2 billion directly to ECG’s suppliers (i.e VRA, IPPs and GRIDCo) to defray GoG’s indebtedness to ECG.”
“We wish to reiterate that the payments made by GoG were not deposited into ECG’s account. Rather, GoG’s direct payments to our suppliers have cleared our books of GoG’s indebtedness after a successful reconciliation with our suppliers”.
The ECG confirmed the payment in a statement signed by its Managing Director, Kwame Agyeman- Boadu.
It added that the government had also paid an amount of GHC4.14 billion to various fuel suppliers and power producers.
The company extended its appreciation to the government for its intervention, saying the “company’s balance sheet is now stronger than before.”
It will be recalled that John Peter Amewu, the Minister for Energy John says the government paid GHS2 billion annually to cover its bills.
He added that the government now has a credit balance of GHS500 million to pay for electricity bills for January to April 2020.
But former Deputy Minister of Energy under the John Mahama administration John Jinapor rebutted claims by the government that they have cleared all debts owed the Electricity Company of Ghana.
Mr Jinapor said is untrue because the government can’t claim debts that the Ghana Water Company owed ECG as debts they owed.
They have now thrown more light on the issue regarding how the payment was done.
Below is the statement