Ghana: IPPs Commend Gov’t, Others For Stepping In To Avert Plant Shutdown

The Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDIB) in the Republic of Ghana have commended all the stakeholders especially government, for stepping in to ensure that their challenge in getting payment for power supplied to ECG is resolved.

“CIPDIB particularly appreciates the role of government, ECG, PDS and the media in tackling the issue,” the chamber said in a press statement copied to energynewsafrica.com.

It would be recalled that the IPPs, in the West African country last week, threatened to shut down their plants if ECG and PDS failed to pay them over $700 million debt within seven days.

The development did not sit well with many Ghanaians and this generated a lingering media discussion.

In the heat of the threats, government, as reported by energynewsafrica.com, released an amount of GHc200 to ECG to defray part of the debts.

The chamber explained in the statement that “there are further commitments by the stakeholders to have the payments to IPPs well-structured, going forward.”

Below is the full statement

PRESS RELEASE

IPPS APPRECIATE EFFORTS BY STAKEHOLDERS TO AVERT SHUT DOWN

1. The past week was particularly busy for the IPPs as they contemplated a shutdown of their plants due to mounting debt stocks.
2. Even though this contemplation was a particularly difficult one for the IPPs, they were constrained by the huge debts which were choking their operations.
3. Against this backdrop, the IPPs, under the umbrella body of CIPDIB, expressed their frustration with a view to having the matter resolved in the interest of our country.
4. Since the matter came to the fore through the instrumentality of the vibrant media, stakeholders have been engaging behind the scenes to have the matter resolved.

5.It would interest the public to learn that the ECG had, since the outbreak of this matter, made some payments to the IPPs concerned.

6. There are further commitments by the stakeholders to have the payments to IPPs well-structured going forward.

7.In the light of these developments, CIPDIB, wishes to acknowledge the efforts of all stakeholders, industry players and the media in helping resolve this critical issue of national concern.

8.CIPDIB particularly appreciate the role of government, ECG, PDS and the media in tackling the issue.

9. As a responsible Chamber, we have a responsibility to protect the national interest and the interest of our members.

9. 10.CIPDIB further calls for more engagement among industry players and important stakeholders with a view to guaranteeing stable power supply regime in our fledgling economy going forward.

We thank you all.

Elikplim Kwabla Apetorgbor 

CEO, CIPDIB