Mines and Energy Committee to meet IPPs, others over energy debt

Chairman of Parliament’s Mines and Energy Committee, Samuel Atta Akyea, has announced plans for an urgent meeting in the energy sector next week to tackle the growing concerns expressed by Independent Power Producers (IPPs) regarding mounting debts that jeopardize the stability of Ghana’s national grid.

The impending meeting, set to involve the committee, the Finance Ministry, the Electricity Company of Ghana (ECG), and the IPPs, aims to seek a resolution to this critical situation. The primary focus will be on addressing the outstanding debts and finding viable solutions to alleviate the crisis.

“It is crucial for the Minister of Finance, the Boards of ECG, and the committee to establish a clear roadmap for resolving this matter,” said Mr. Atta Akyea.

“We must avoid a situation where the government is pressured into taking actions that could be perceived as blackmail,” he added.

He added that the committee is “committed to finding a solution that is in the best interests of all stakeholders.”

The IPPs, which control about 50 percent of the country’s generation mix, have highlighted that the outstanding debts have hindered their access to working capital, preventing them from financing crucial inputs such as chemicals for water treatment in thermal generators and other supplies, many of which are priced in foreign currency, primarily the US dollar.

The meeting is scheduled to take place on Monday or Tuesday of next week.