PURC updates public on ECG’s compliance with Cash Waterfall Mechanism procedure

The Public Utilities Regulatory Commission (PURC) has announced that the Electricity Company of Ghana (ECG) is on course in respect of compliance with the 5 requirements under the Cash Waterfall Mechanism procedure.

This is contained in a statement dated March 26, 2024, issued by the Commission and signed by its Executive Secretary, Dr Ishmael Ackah.

According to the PURC, the ECG has fully completed procedures A to C below, while procedure D is ‘in progress’. Procedure E is however outstanding, “This will be undertaken after D is completed” the PURC said.

See below:

A. The Electricity Company of Ghana (ECG) shall submit to the CWM Standing Committee the actual revenue collected for the approval month.

B. The CWM Standing Committee shall approve the revenue allocation percentage and the respective amount based on the net revenue collected.

C. The CWM Standing Committee shall submit the approved revenue allocation percentage to the Electricity Company of Ghana (ECG).

D. Upon receipt of the approved revenue allocation percentage issued by the Standing
Committee, ECG shall effect payments to the energy sector players along the electricity
value chain.

E. PURC shall validate all payments made along the electricity value chain for an approval month and publish it on the PURC website not later than the second week of the following month.

The post PURC updates public on ECG’s compliance with Cash Waterfall Mechanism procedure first appeared on 3News.

Read Full Story