It goes beyond threats, we'll have to shut down if we're not paid consistently - IPPs CEO

The Chief Executive Officer (CEO) of the Independent Power Producers (IPPs), Elikplim Kwabla Apetorgbor, has said his outfit will not run operations smoothly if the government does not pay monies owed them consistently.

The IPPs' CEO in an interview on Citi FM's Eye Witness news, noted that the call has gone beyond threats because huge funds are needed to sustain power plants.

“It is not about the threat to shut down, it is about our ability to keep the plant running. Operating a power plant always requires a lot of money to keep the systems working. So if we lack the resource, it is practically impossible to keep the system on,” he explained.

Following concerns raised by the power generation companies, the Electricity Company of Ghana (ECG) cleared their arrears to all IPPs for the months of June and July.

Also, the External Communications Manager for the ECG, Leila Abubakari, disclosed that the necessary measures had been implemented to ensure the arrears owed the IPPs were eventually cleared.

Mr. Apetorgbor attested to the IPPs' receipt of payment for August and the ECG's assurance of ongoing, regular payment.

“We received an assurance from ECG. It is a continuous process. The arrangement is that going forward, all the current invoices will be settled substantially. That is to prevent future accumulations. That is what ECG is trying to do. We have an assurance that not much will be accumulated.”

He added, “And what we are receiving now is minimum and our prayer is that it will be sustained and be improved upon. We have received for August so going forward September too we are expecting it".

Mr. Apetorgbor indicated that plans had been made to see to the settlement of any outstanding arrears.

He reaffirmed that the IPPs remained "opposed to anything called Debt Restructuring" in the interim.

"What we are open to is a payment plan. Frequency of payment is what matters to us," he noted.

NOQ/KPE

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