The CEO of the Independent Power Producers (IPP), Dr Elikplim Apetorgbor, has sounded an alarm over the imminent shutdown of three key power plants due to mounting unpaid debts.
According to Dr. Apetorgbor, the government owes $259 million to the Independent Power Producers through the Electricity Company of Ghana (ECG).
In an interview on Tuesday, November 19, Dr Apetorgbor called on the government to urgently settle the arrears, stressing that failure to act could lead to significant disruptions in energy production and delivery.
“I can confirm that all is not well, if there is no intervention before Friday, November 22, I can tell you that by Monday three key power plants will be off the grids. It is a serious matter, it is not fun,” he asserted. “We have received these assurances severally so this can’t sway us. We are resolute.”
This warning comes on the heels of the commissioning of the Bridge Power Project by President Akufo-Addo to address energy deficits in the sector.
Dr Apetorgbor argued that while the Bridge Power Project is a significant step forward, it does not address the critical financial and operational challenges that could still lead to disruptions in power supply.
He emphasized that achieving a sustainable and reliable energy system requires more than just infrastructure expansion.
“Without resolving the mounting debts and ensuring financial stability for power producers, the risk of dumsor persists, regardless of new power plants being commissioned,” he stated.
Dr Apetorgbor urged the government to match its promises with concrete actions, including timely payment of debts to IPPs and reforms to strengthen the financial and operational efficiency of the Electricity Company of Ghana.
Without these measures, he warned, the president’s assurance may remain unfulfilled.
“To say that the commissioning of this plant is going to put dumsor to rest I find it difficult to relate,” he added.