03
Aug
The Electricity Company of Ghana (ECG) recorded a loss of ¢1.913 billion in 2021 as against a profit of ¢822.549 million in 2020. This represented a 332.7% deterioration in the company’s financial performance. According to the 2022 Auditor General Report, total income of the company decreased by 13.7% to ¢12.104 billion in 2021. The fall in total income, the report said, was mainly due to the decrease in government grants. The grants were payments made to power producing companies by the government on behalf of Electricity Company of Ghana. The company also incurred a direct cost of ¢12.104 billion in…