ECG debt threatens Ghana Gas stability; Settle it immediately – GGSSA to govt

The Ghana Gas Senior Staff Association (GGSSA) has raised concerns about the Electricity Company of Ghana’s (ECG) overdue debt to the company, urging the government to take immediate action.

This outstanding payment, the association warns, poses a significant threat to the stability and operations of Ghana Gas, a vital pillar of the nation’s energy sector.

In a statement issued Monday, the GGSSA emphasized the need for both immediate debt settlement and adherence to International Monetary Fund (IMF) conditionalities.

The association believes these steps are crucial to safeguarding the sustainability of key players within the energy sector, including Ghana Gas.

“In recent times, a concerning trend has emerged within Ghana’s Energy Sector is the non-payment by the ECG to various State-Owned Enterprises (SOEs), with the Ghana National Gas Company (Ghana Gas) standing out as a critical victim of this financial neglect. This issue not only raises questions about financial prudence but also poses a significant threat to the stability and operations of Ghana Gas, a cornerstone of the nation’s Energy Sector.”

“The GGSSA is calling for the immediate payment due to Ghana Gas, this is a pressing issue that demands immediate attention. Adherence to IMF conditionality and presidential directives is crucial for maintaining financial stability and ensuring the seamless functioning of critical entities within the energy sector.”

The association said the government and relevant authorities must address the issue promptly to mitigate the potential economic fallout and uphold Ghana’s reputation as a responsible and stable investment destination.

“We call for prudent actions to reinstate the Cash Water Fall Mechanism and payment of all outstanding invoices due Ghana Gas to give reliable gas supply to prevent power crisis (dumsor) on innocent Ghanaians & the country at Large,” it added.

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