Dr. Ismael Ackah Public Utilities Regulatory Commission (PURC) Executive Secretary has sent a strong signal to the presidency indicating the Electricity Company of Ghana (ECG) is at risk of bankruptcy due to critical financial problems.
The PURC in a message directed to the Presidency, the Energy and Finance Ministers, and other key stakeholders, outlined the financial crisis, which is also impacting the operations of the Volta River Authority (VRA), Ghana Grid Company (GRIDCo), and the Bui Power Authority.
He added that despite ideas aimed at improving cash collection through digital and metering programs, as well as substantial tariff increases of over 75% since September 2022, ECG’s fiscal insecurity perseveres.
Dr. Ackah stated the current problems have caused delays in wages payments and difficulties in meeting organizational costs, stressing the need for immediate action to avoid further decline.
The Public Utilities Regulatory Commission (PURC) was instituted in October 1997 under the Public Utilities Regulatory Commission Act, 1997 (Act 538) as a multi-sector regulator to regulate the provision of electricity and water utility services.
