Our June 30th Ultimatum Still Remains – IPPs Cautions Gov’t

The Chamber of Independent Power Producers (IPPs) says its members will shut down their plants in three weeks unless government meets their demands to settle all outstanding indebtedness.

The shutdown potentially could create a huge power shortfall as the IPPs control over 65% of the available thermal generation capacity in the country.

They are owed at least 1.4 billion dollars and government has so far been working around the clock to get them to agree to have these debts restructured.

The Chief Executive Officer of the Chamber, Elikplim Apetorgbor says members are struggling to keep their businesses afloat.

As a result, he reiterated that their June 30th ultimatum given to government to settle its debt still holds.

According to him, the IPPs cannot stretch themselves beyond the June 30 deadline.

“Our conditions or severity of our situation is something that cannot be negotiated. We have done everything possible to manage the situation but it has gone beyond our control. So really, nothing has changed our ultimatum to government, that is the June 30th is still standing,” he said.

Touching on the International Monetary Fund (IMF) asking government to undertake an audit of the power plants to ensure it is actually paying the right amount, Mr. Apetorgbor suspects the move is a strategy to delay payment although they have the right to audit.

According to him, the issue with the delay is that “the consequences of any further delay cannot be averted if that is a strategy to delay payment to us.”

“We are open to any kind of audit. I can tell you that this thing has happened time and again – auditing of our invoices. Let me tell you it is just a strategy to buy time,” he said.

Meanwhile, the Electricity Company of Ghana is leading the talks with the IPPs. Managing Director Samuel Dubik Mahama insists an agreement will be reached.

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