ECG board members to pay GH¢5.8m over fallouts of ‘dumsor’

The Public Utilities Regulatory Commission (PURC) has taken action against the Electricity Company of Ghana (ECG) for its failure to submit all bank and investment accounts to the Commission, imposing a fine of GH¢36,000 on it, a report by myjoyonline.com has said.

Despite multiple requests made to ECG with deadlines of March 25, March 27, and April 2, 2024, the report said that the information provided was deemed incomplete, resulting in the penalty.

Additionally, due to ECG's non-compliance with the 3-day statutory notice requirement for planned outages, a hefty fine of GH¢5,868,000.00 has been imposed on the company.

However, the report added, considering the potential adverse impact on service quality and consumers, the PURC has shifted the responsibility of paying this fine to the board members who served from January 1 to March 18, 2024.

These board members are instructed to pay the fine into a dedicated fuel account jointly controlled by the Ministry of Energy and the Ministry of Finance by May 30, 2024.

Furthermore, ECG is ordered to settle its outstanding obligations under the Cash Waterfall Mechanism, amounting to GH¢446,283,706.29, to Category B beneficiaries by April 30, 2024, with consequences for non-payment falling on the board members and management, the report said.

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