The Executive Director of the Institute for Energy Security (IES), Nana Amoasi VII, has urged the government to take immediate action to avoid a potential power crisis reminiscent of past supply challenges.
Nana Amoasi VII revealed that three major Independent Power Producers (IPPs) may cease operations due to a $259 million debt owed to them by the Electricity Company of Ghana (ECG). He emphasized the need for urgent intervention to prevent power plants from shutting down.
The CEO of the IPPs Chamber, Dr. Elikplim Apetorgbor, confirmed the dire situation during an interview with Citi FM News on Tuesday, November 19. “All is not well. Without intervention before Friday, three key power plants will be off the grids by Monday. This is a serious matter, and we remain resolute despite repeated assurances,” Dr. Apetorgbor stated.
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Speaking on November 20, Nana Amoasi VII highlighted the growing frustration among IPPs. “There is fear they may lose leverage to negotiate with the next government, which is why they’re resolute in their stance. Asogli’s shutdown in October should serve as a warning,” he noted, urging the government to act swiftly to prevent further disruptions.
The threat underscores the importance of addressing the energy sector’s financial challenges to maintain a stable power supply.
