The Africa Centre for Energy Policy (ACEP) has stated that, the “Power sector remains a major threat to Ghana’s economic sustainability” and chided the Electricity Company of Ghana (ECG) for engaging in “discretionary spending and poor accounting”.
The Energy Think Tank in its latest report, said that tariffs have increased by about 100percent in the past nine months Ghana sealed the deal with the International Monetary Fund (IMF), however, liquidity has worsened within the same period, raising concerns about revenue accounting by ECG and the impact of the adjustments.
“The International Monetary Fund (IMF) programme recognizes the reform of the sector as key to economic recovery.
“The Cash Waterfall Mechanism recorded its poorest performance in March and April 2023, meeting only 11% of the revenue requirement. This is because of ECG’s discretionary spending and poor accounting.
“At the same time, more poor decisions are being made to further threaten the sustainability of the power sector, requiring a seismic shift in the governance of the sector.
