ECG Archives - Page 7 of 13

03 Aug

ECG Records ¢1.9Bn Loss In 2021 – Auditor General Report

wontumionlineBusiness2022 Auditor General Report, current assets, current liabilities, ECG, Loss, total income

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…

31 Jul

ECG Caught In Over US$145m Procurement Breaches – Audit Report

wontumionlineNewsECG, Samuel Dubik Mahama

The Electricity Company of Ghana (ECG) has been caught in procurement breaches worth over $145 million, according to the Auditor-General. The board and management of the power distributor failed to obey the Public Procurement Act in signing 50 contracts to procure 862,750 meters and its accessories between 2016 and 2021. According to the 2022 Performance Audit Report of the Auditor General on the Management of Meters by the Electricity Company Limited, ECG failed to consider legal processes of value for money by ensuring transparency and competitiveness in the tender process. A graphic.com.gh report on the issue read in part: "Though…

14 Jul

ECG Disconnects Customers Owing Over ¢700,000

wontumionlineBusinessECG, Farm Business, Treasure Island HoteL

As part of the ongoing revenue mobilisation drive by the Electricity Company of Ghana, dubbed “Operation Zero,” the Musahamat Banana Farm in Aveyime and the Treasure Island Hotel have had their power supply disconnected. The Farm Business, which is under the Ada District of the Tema Region of ECG, owes the electricity distributor to a tune of ¢219,184.42, while Treasure Island Hotel owes ¢379,775.95, hence their disconnection which occurred on Thursday July 13, 2023 at their premises. The ECG since Tuesday, July 11, 2023, started a two month long campaign to ensure that no customer of theirs has unpaid debt.…

11 Jul

ECG’s GH₵540m ‘Discretionary Spending’ Baffles ACEP

wontumionlineBusinessAfrica Centre for Energy Policy, ECG

The Africa Centre for Energy Policy (ACEP) wants answers to the Electricity Company’s (ECG) GH₵540million discretionary spending despite tight liquidity concerns within the power sector. ACEP, in statement, said the power distribution company discretionally spent GH₵540million out of the GH₵1.1billion it retrieved from consumers in March and April this year under the ongoing debt recovering exercise, without justification and in the face of tight liquidity concerns within the power value chain. Challenges in the sector are well-documented, with government struggling to settle a debt of GH₵1.9billion to Independent Power Producers (IPPs) by June end – due to the ECG’s inability…

04 Jul

ECG, Police, BoG And 5 Other Public Institutions Being ‘Grilled’ By Special Prosecutor

wontumionlineNewsBoG, ECG, Kissi Agyebeng, Police, Special Prosecutor

The Special Prosecutor, Kissi Agyebeng has released his half-yearly report of activities which his office has overseen for the first half of the year. The report offers insight into the corruption cases investigated and prosecuted by the Office of the Special Prosecutor. The report also highlights cases before him, those in court, those which have been concluded among others. This is the third half-yearly report under his tenure as Special Prosecutor. The Special Prosecutor, in his report, indicated that there are currently some 150 cases of various natures before him for investigation. Among these, Kissi Agyebeng’s office highlighted some 8 public institutions which…

03 Jul

A Weakened ECG To Rescue IPPs? – Terkper Asks

wontumionlineBusinessECG

Former Finance Minister Seth Terkper has indicated that the Electricity Company of Ghana (ECG) has been weakened. He was reacting to a meeting held with ECG on Friday, between the state power distributor and the Independent Power Producers (IPPs) which led to the suspension of the planned shutdown of power plants. Following the meeting, the managing director of the ECG Samuel Dubik Mahama explained that, per the agreement reached on the framework going forward with IPPs, ECG “agreed to stay current. So if I am current now, every month, you are okay.” He continued “We used interim in two forms.…

20 Jun

Nima Resident Remanded After Being Charged For Stealing ECG Power Cables

wontumionlineNewsECG, Nima Resident

A resident of Nima, Geoffrey Obuobi, has been charged with three counts, including stealing and causing unlawful damage. He has been remanded into custody by an Accra Circuit Court presided over by Bright Samuel Acquah. The suspect was arrested on June 13, 2023, by some residents of Nima with 1x185 copper cables valued at approximately GH¢1,900.00 in his possession as he attempted to escape. According to the prosecution, his arrest followed the rampant stealing of ECG copper cables from an ECG transformer in Nima, which often resulted in power outages in the community, prompting the service provider to replace the…

12 Jun

ECG To Deploy 40,000 Prepaid Meters To Customers In Western Region

wontumionlineBusinessECG, ECG meters

The Electricity Company of Ghana (ECG) is to install about 40,000 prepaid meters for customers in the Western Region this year. “In about two weeks' time, we expect to take delivery of these meters and ensure that we start installing them for all those who have requested new services,” ECG’s Western Regional General Manager, Emmanuel Justice Ofori, told the media in Takoradi when he led a delegation of ECG management and a board member, Naana Nsarfoah, to pay a familiarisation visit to the Western Region Chapter of the Ghana Journalists Association (GJA) press centre in Takoradi. He expressed hope that…

31 May

ECG Uncovers Customer Who Illegally Connected His Meter To Over 30 Structures

wontumionlineNewsECG

Personnel of the Afienya District of the Electricity Company of Ghana Limited on Tuesday, May 30, 2023, discovered that one customer had connected electricity to 33 other structures within the same vicinity at Gbetsile, a suburb of Greater Accra Region. The discovery was made as part of the ECG’s recent national revenue mobilization drive, which started on Monday, May 29, 2023, and is expected to end on Friday, June 2, 2023. Briefing the media, the District Manager for ECG Afienya District, Ing. Daniel Mensah-Asare indicated that as part of the exercise, “we also check on the state of the meters…

25 May

ECG To Chase Customers Again Over Debts, Illegal Connections Effective Monday

wontumionlineBusinessECG

The management of the Electricity Company of Ghana (ECG) has informed customers that the company would embark on a nationwide revenue mobilization exercise again commencing Monday 29th May to Friday 2nd June 2023. The management described this move as “massive.” This revenue mobilization will focus on all categories of customers in areas including state-owned enterprises, the management said. “The exercise will be monitored by special teams who will apprehend and prosecute customers who attempt to interfere with the exercise and/or undertake illegal self-reconnection after disconnection,” the company said. https://twitter.com/ECGghOfficial/status/1660922926512611334?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1660922926512611334%7Ctwgr%5E514cd28f0220dc66bfbf9ed0b3b38497cd95ea41%7Ctwcon%5Es1_&ref_url=https%3A%2F%2F3news.com%2Fecg-to-chase-customers-again-over-debts-illegal-connections-effective-monday%2F The ECG has been carrying out an exercise to collect all debts owed…