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

Samuel Atta Akyea, Chairman of the Mines and Energy Committee of Parliament, has said that his team is scheduled to hold a crunch meeting with sectors in the energy sector next week to address the concerns raised by Independent Power Producers (IPPs) regarding the significant outstanding debts that pose a threat to the stability of the national grid.

The meeting, which will involve the committee, the Finance Ministry, the Electricity Company of Ghana (ECG), and the IPPs, is aimed at finding a solution to 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.