Elikplim Kwabla Apetorgbor, CEO of the Independent Power Producers (IPPs), has clarified that the possibility of shutting down their power plants will only come into play if the promises made by the government are not upheld.
In an interview with Nii Larte Lartey on Eyewitness News on Citi FM in Accra, Apetorgbor highlighted the financial challenges associated with operating power plants, emphasizing that consistent financial resources are required to ensure smooth operations. He stated, “It is not about the threat to shut down, it is about our ability to keep the plant running. Operating a power plant always requires a lot of money to keep the systems working. So if we lack the resource, it is practically impossible to keep the system on.”
Apetorgbor’s comments followed the recent settlement of debts owed to all IPPs by the Electricity Company of Ghana (ECG) for the months of June and July. ECG’s External Communications Manager, Leila Abubakari, had previously disclosed that efforts were being made to address arrears owed to the IPPs.
The CEO confirmed that the IPPs had received payment for August and had been assured by ECG of continued consistent payments. He elaborated on ECG’s commitment, stating, “We received an assurance from ECG. It is a continuous process. The arrangement is that going forward, all the current invoices will be settled substantially… not much will be accumulated.”
While addressing outstanding arrears, Apetorgbor emphasized the establishment of arrangements to ensure timely settlement.
Furthermore, he reiterated the IPPs’ opposition to debt restructuring, asserting their preference for a payment plan. Apetorgbor underscored that the frequency of payments holds greater importance for the IPPs.
The IPPs’ stance signals the ongoing dialogue between power producers and the government to address financial concerns and ensure the stable operation of power plants in the country.
Source: Norvanreports