The Electricity Company of Ghana (ECG) has settled debts owed to all Independent Power Producers (IPPs) for the months of June and July, despite earlier concerns expressed by the power generation companies.
Sources close to OilCity Radio confirm that all IPPs have received a second payment from the ECG for current bills incurred in June.
The Chamber of Independent Power Producers had previously warned of potential nationwide power outages in response to the late payments.
These threats, however, were put on hold following fruitful conversations between the Chamber and the ECG.
The IPPs were seeking a 30% interim payment on the loans, which had risen to more than $2 billion.
However, evidence obtained by OilCity Radio indicates that bills for the debts have been received by the IPPs, with the ECG vowing to pay on time in the future.
These threats, however, were put on hold following fruitful conversations between the Chamber and the ECG.
The IPPs were seeking a 30% interim payment on the loans, which had risen to more than $2 billion.
However, evidence obtained by OilCity Radio indicates that bills for the debts have been received by the IPPs, with the ECG vowing to pay on time in the future.
