The Minister for Energy, John Peter Amewu, has said the government would waste no time in taking over the operations of the Electricity Company of Ghana (ECG) if the new manager, Power Distribution Services (PDS) fails to meet key performance indicators.
PDS is expected to improve revenue collection, cut cost, and maintain stable power for two decades while injecting over 500 million dollars into the company.
Speaking at a handing over ceremony, Amewu stated that the operations of PDS will closely be monitored to ensure performance delivery.
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“The private participation intends to achieve over the concession period is a venture worth embracing. I wish to assure the concessionaire PDS, that I am going to keep my eagle eye on the Key Performance Indicators on the transaction agreement and if for some reasons all those challenges enumerated above; on any single occasion during the period that you are expected to deliver effective services will come and turn the door to the exit or the exit to the door will clearly be an option”, he stressed.
The Electricity Company of Ghana has handed over operations of the company to Power Distribution Services (PDS).
By this, PDS will be the new owners and directors of the company.
PDS has taken over the management and operations of the ECG after Meralco consortium, a major shareholder in PDS won a bid to manage the national power distributor.
The scheduled takeover which was to have occurred on February 1, 2019, was postponed by the Millennium Development Authority (MIDA) due to certain lapses that needed to be clarified to ascertain a smooth handing over of the company.
PDS is expected to turnaround the operations of ECG to make it profitable.
In addition, the new management will improve access to electricity while cutting down on waste in the system to block all leakages that drain the financials of ECG.
One major huddle that PDS will have to overcome is how to clear all debts owed ECG by the government through its state agencies and departments, as well as ministries.
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