IPPs happy with  govt’s decision on  energy sector debt

Story: Peace Awuku

The Chief Executive Officer (CEO) of the Independent Power Producers (IPPs), Elikplim Kwabla Apetorgbor, has expressed excitement at the government’s acknowledgement of the crucial importance of their concerns in the mid-year fiscal policy review of the 2023 Budget Statement and Economic Policy presented by the Finance Minister in Accra on Monday.

The government owes the IPPs over $2 billion, which in recent days forced the power producers to contemplate shutting down their power plants if the government failed to settle their debt.

However, speaking in an interview with the media Mr. Apetorgbor said that the mid-year fiscal policy review captured some strategies the government was putting in place to address their concerns.

“I am happy that the Minister of Finance indicated that our concerns are very critical to him and the government. He made some indications regarding some strategies that they are putting in place. He mentioned an updated cash waterfall mechanism,” he said.

“He also indicated the government’s support to ECG to improve its collection so that it can meet its revenue targets and pay the IPPs,” he added.

Mr. Apetorgbor said that the government had made some assurances to them about addressing their needs. “We had some engagements at the eleventh hour and some assurances. The process has started and we received an assurance that the process will continue, or the assurances will be fulfilled,” he added.

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