{"id":183347,"date":"2024-05-17T10:10:01","date_gmt":"2024-05-17T10:10:01","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/05\/17\/cash-waterfall-mechanism-not-fair-designed-to-benefit-ipps-vra-senior-staff-association\/"},"modified":"2024-05-17T10:10:01","modified_gmt":"2024-05-17T10:10:01","slug":"cash-waterfall-mechanism-not-fair-designed-to-benefit-ipps-vra-senior-staff-association","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/05\/17\/cash-waterfall-mechanism-not-fair-designed-to-benefit-ipps-vra-senior-staff-association\/","title":{"rendered":"Cash Waterfall Mechanism not fair, designed to benefit IPPs \u2013 VRA Senior Staff Association \u2013"},"content":{"rendered":"
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The Volta River\u00a0Authority\u2019s\u00a0(VRA) Senior Staff Association has expressed dissatisfaction with the effects of the updated Cash Waterfall Mechanism (CWM) on the\u00a0company\u2019s\u00a0functionality.<\/p>\n
According to the association, even though\u00a0as\u00a0an authority, it produces about 67.5 per cent of power to the national grid, and the Independent Power Producers (IPPs) produce only 32.5 per cent\u00a0the\u00a0disbursement of revenue has been designed to benefit the IPPs.<\/p>\n
The Cash Waterfall Mechanism, a financial model\u00a0that helps in determining the allocation of the monthly interest and the principal cash flows among the parties involved in a transaction,\u00a0was implemented in April 2020 and revised in 2023 as part of the Energy Sector Recovery Programme (ESRP) to ensure fairness and transparency in distributing energy revenues among electricity distribution companies; VRA, GRIDCo, ECG and the others.\u00a0<\/p>\n
However, the VRA Senior Staff said in a statement that the\u00a0mechanism\u2019s\u00a0implementation has not reflected the intended fairness, as Independent Power Producers (IPPs) receive a predetermined sum of\u00a0$43 million monthly.<\/p>\n
\u201cCurrently, all available plants are running 24\/7. That cannot\u00a0be said\u00a0about IPPs, yet at the end of the month, they\u00a0are given\u00a0$43 million\u00a0which\u00a0is more than half of all the payments made into the CWM by the ECG,\u201d\u00a0portions of the statement said.<\/p>\n
\u201c\u2026 Will IPPs accept this kind of treatment meted to VRA?\u201d\u00a0the Association quizzed.<\/p>\n<\/figure>\n
Addressing the calls to privatise the operations of the Volta River Authority, the association stated that it is the only state-owned power generator that will guarantee energy security.\u00a0<\/p>\n
\u201cWe wish to reiterate that VRA is the only strategic state-owned power utility providing and guaranteeing the energy security for the people of Ghana\u00a0and\u00a0for\u00a0that matter\u00a0none\u00a0of its assets must be put\u00a0on sale.<\/p>\n
\u201cThe Authority is efficient in operating and managing its assets and thus should be allowed to operate its diverse generation mix, devoid of any unwarranted privatisation.\u201d<\/p>\n
The Volta River\u00a0Authority\u2019s\u00a0(VRA) Senior Staff Association has expressed dissatisfaction with the effects of the updated Cash Waterfall Mechanism (CWM) on the\u00a0company\u2019s\u00a0functionality. According to the association, even though\u00a0as\u00a0an authority, it produces about 67.5 per cent of power to the national grid, and the Independent Power Producers (IPPs) produce only 32.5 per cent\u00a0the\u00a0disbursement of revenue has been […]<\/p>\n","protected":false},"author":1,"featured_media":183348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-183347","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
Cash Waterfall Mechanism not fair, designed to benefit IPPs \u2013 VRA Senior Staff Association \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/05\/17\/cash-waterfall-mechanism-not-fair-designed-to-benefit-ipps-vra-senior-staff-association\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cash Waterfall Mechanism not fair, designed to benefit IPPs \u2013 VRA Senior Staff Association \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Volta River\u00a0Authority\u2019s\u00a0(VRA) Senior Staff Association has expressed dissatisfaction with the effects of the updated Cash Waterfall Mechanism (CWM) on the\u00a0company\u2019s\u00a0functionality. According to the association, even though\u00a0as\u00a0an authority, it produces about 67.5 per cent of power to the national grid, and the Independent Power Producers (IPPs) produce only 32.5 per cent\u00a0the\u00a0disbursement of revenue has been […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2024\/05\/17\/cash-waterfall-mechanism-not-fair-designed-to-benefit-ipps-vra-senior-staff-association\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-17T10:10:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/05\/image-1002.png\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"375\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/17\\\/cash-waterfall-mechanism-not-fair-designed-to-benefit-ipps-vra-senior-staff-association\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/17\\\/cash-waterfall-mechanism-not-fair-designed-to-benefit-ipps-vra-senior-staff-association\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"headline\":\"Cash Waterfall Mechanism not fair, designed to benefit IPPs \u2013 VRA Senior Staff Association \u2013\",\"datePublished\":\"2024-05-17T10:10:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/17\\\/cash-waterfall-mechanism-not-fair-designed-to-benefit-ipps-vra-senior-staff-association\\\/\"},\"wordCount\":328,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/17\\\/cash-waterfall-mechanism-not-fair-designed-to-benefit-ipps-vra-senior-staff-association\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/image-1002.png\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/17\\\/cash-waterfall-mechanism-not-fair-designed-to-benefit-ipps-vra-senior-staff-association\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/17\\\/cash-waterfall-mechanism-not-fair-designed-to-benefit-ipps-vra-senior-staff-association\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/05\\\/17\\\/cash-waterfall-mechanism-not-fair-designed-to-benefit-ipps-vra-senior-staff-association\\\/\",\"name\":\"Cash Waterfall Mechanism not fair, designed to benefit IPPs \u2013 VRA Senior Staff Association \u2013 - 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