In a bold move to address the financial crisis in Ghana’s energy sector, the Structural and Policy Reforms Committee of the National Economic Dialogue has proposed the sale of select assets belonging to the Electricity Company of Ghana (ECG), the Volta River Authority (VRA), and the Bui Power Authority.
The proceeds from these sales would be used to settle ECG’s legacy debt, which currently stands at an estimated $2.2 billion owed to Independent Power Producers (IPPs).
Dr. Kofi Koduah, Chairman of the committee, warned that if immediate action is not taken, ECG’s liabilities could balloon to $9.5 billion by 2027, posing a severe threat to the country’s energy security and economic stability.
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Audio PlayerBeyond asset sales, the committee also recommended renegotiating existing power purchase agreements, citing the high cost associated with current contracts as a significant burden on the sector.
The call for renegotiation aligns with ongoing efforts to restructure Ghana’s energy debt and ensure a more sustainable power supply system.
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Audio PlayerStory by: Osei-Akoto (Teacher Kojo) #ahotoronline.com/oseiakotor1@gmail.com
