Staff pose for group photo during AKSA plant inspection
The management of the Electricity Company of Ghana (ECG) has reaffirmed its commitment to strictly comply with the Cash Waterfall Mechanism to ensure constant supply of electricity.
Kwame Kpekpena, Acting Managing Director of the ECG, said the Cash Waterfall Mechanism was a transparent and equitable revenue distribution framework to manage electricity sector payments.
He said this during a visit to inspect the Aksa Plant, which is under construction at Anwomaso in the Oforikrom Municipality of the Ashanti Region.
He was accompanied by Dr William Amuna, Board Chairman, and the management of the Ashanti Regional ECG.
Kpekpena indicated that, the adoption of the Cash Waterfall Mechanism would ensure that, all revenue collected by the ECG was distributed proportionally mong sector players including the Independent Power Producers (IPPs) and state-owned utilities.
Additionally, the mechanism would reduce payment gaps and sector debt, which would transcend to providing stable and constant power supply to customers.
Kpekpena said, “currently our revenue collection has improved, and the economic indicators are better, so we are able to pay all IPPs.”
He emphasised that having a stable power supply had a positive impact on the economic performance of the country, which in the end made citizens happy and comfortable.
Kpekpena expressed delight in the establishment of the Aksa Plant, which when fully completed, would serve and improve power accessibility in the region.
“Kumasi is one of Ghana’s largest cities and the Ashanti Region has a lot of developmental opportunities, so establishing a generation hub in Kumasi as the middle belt is a step in the right direction,” he said.
Murat Captug, the Country Manager of Aksa Energy, said currently, the first phase of the plant construction had been completed with 123 MW of the 205 MW total capacity in operation.
He assured that by the end of April this year, the second phase of the project would be completed to unleash the full operational capacity of the plant.
Dr William Amuna, the Board Chairman of the ECG, commended the Managing Director of the ECG for ensuring fiscal discipline to enhance operational efficiency.
He said the ECG was developing an innovative strategy to fight illegal connections to rake in more revenue to keep the power supply chain functioning and minimise system losses.
