According to Samuel Dubik Mahama, the Managing Director of ECG, though they have recouped a substantial amount, they will still go after their debtors.
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We’ll pay our debts from the GHS2 billion recouped from defaulters - ECG
The Electricity Company of Ghana (ECG) has said that it has recouped over two billion Ghana cedis from its recent nationwide debt recovery task force.
Samuel Dubik Mahama, ECG MD
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Speaking on Citi TV, Mahama said ECG will settle some of its debts from the monies recouped.
“We have collected in excess of GH¢2 billion. That is less than half [of what we targeted], but we have one more week to go before I am able to give my figures. I will sit down, do an assessment and then see. Why are people not paying? We will disconnect and prosecute.”
The ECG exercise has forced both government and private institutions to cough up some funds to settle outstanding debt to avoid disconnection.
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Some institutions were not disconnected from the national grid following the show of commitment to settle their debts.
The ECG is also said to be indebted to some of its partners hence the revenue mobilization efforts.
Samuel Dubik Mahama
Pulse Ghana
For instance, Independent power producers (IPPs), the electricity generation companies that control 50 per cent of the country’s generation mix, have called on the government to urgently settle its indebtedness to them.
The nine companies said the Electricity Company of Ghana (ECG) owed them about the cedi equivalent of $1.4 billion.
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“With the money raised, I will pay everyone who needs some more money. I will pay off my meter manufacturers. I will give the power producers some money. I will give GRIDCo some money. There is a component for Ghana Gas and everyone within the cash waterfall mechanism that needs to benefit will definitely receive”, he stressed.
The company in its one-month-long revenue mobilisation is eyeing to recover some GH¢5.7 billion from individuals and firms who have failed to pay for power used.
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