IPPs cancels $600m energy debt owed by gov’t
The Chamber of Independent Power Producers, Distributors and Bulk Consumers [CIPDiB] has applauded Dr. Mattew Opoku Prempeh, the Minister for Energy, for his intervention which has helped resolved some major issues in the energy sector.
This comes at the back of the cancellation of some $600 million energy debt and arrears owed by government by the Chamber.
The chamber mentioned this in a press statement stating that, “These settlements, as announced by the Deputy Minister of Energy, William Owuraku Aidoo, on the floor of Parliament during a question time yesterday, Thursday, 24th February, 2022 came as a result of some debt forgiveness and cancellations via accounting set offs, amounting to over $600million, which we think the IPPs deserve public commendation for.”
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According to the Chief Executive Officer of the Chamber, Elikplim Kwabla Apetorgbor, the chamber deserves public commendation for such move, however urging the Energy Ministry not to interfere in the current structure of revenue disbursement and allocation to the IPPs.
“These settlements did not come only as a financially settlement. It involves forgiveness of debt and cancellation through accounting set offs which amounted to over $600 million; and I think that the IPPs deserve public commendation for that kindness”.
“I must commend the Energy Minister for the good leadership and for creating a good working relationship between the IPPs and the Ministry of Energy to have issues discussed from a business perspective and with wisdom that has yielded this result”.
“Going forward, we do not expect interference in the current structure of revenue disbursement and allocation,” he stated.
