24
Sep
Independent Power Producers (IPPs) will shut down their thermal plant by the end of this month if government fails to honour its debt obligation which is running into over $1.4 billion. This will consequently lead to power rationing if the planned shut down of the plants goes ahead. According to a notice to the Energy Minister, sighted by Joy Business, the IPPs warned that the shutdown is as a result of the members’ difficult cash flow position as they have not received enough payment to honour their gas bill and other financial obligations. The IPPs contribute about 45 per cent…