Government overpays ECG’s GHC2 billion debt in abundance of over GHC500 million

Government overpays ECG’s GHC2 billion debt in abundance of over GHC500 million

- The Minister of Energy, John Peter Amewu, has announced that the government has paid the total debt owed Electricity Company of Ghana (ECG)

- He added that there is now a credit balance of GHC500 million

- According to him, the debt owed ECG as at the time NDC left office was GHC2.63 billion

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Information available to YEN.com.gh shows that the government has cleared debt owed the Electricity Company of Ghana (ECG).

According to the Minister of Energy, John Peter Amewu, the move was intended to place the state-owned electricity distributor on a sound financial footing.

He explained that the National Democratic Congress (NDC) left a debt of GHC2.63 billion at ECG when they left office.

READ ALSO: ECG outlines how Ghanaians will enjoy free electricity

Per a report by Starrfm.com.gh, he went on to say that the government has cleared the entire debt and even left a GHC500 million credit balance.

Amewu added that the present government regularly paid ECG’s bills of GHC2 billion from 2017 till date.

YEN.com.gh earlier reported that The Managing Director of the Electricity Company of Ghana (ECG), Kwame Agyemang-Budu, has announced that the electricity reliefs announced by President Akufo-Addo would be implemented from May 1, 2020.

Making reference to Akufo-Addo’s address on Thursday, April 9, 2020, with respect to reliefs provided by the government as Ghana combats the coronavirus, he explained that lifeline customers, that is, those who use between 0 to 50 kilowatt-hours of electricity per month, will pay nothing.

He added that residential and commercial users would, however, pay 50% of the tariff.

READ ALSO: Energy debt will not be affected by GHC1 billion electricity relief - Minister

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Source: Yen

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