Elikplim Kwabla Apetorgbor, the CEO of the Independent Power Producers (IPPs), has said that the IPPs will only threaten to shut down their facilities if the government fails to keep its promises to them.
"Our ability to keep the facility running is what matters, not the fear of a shutdown. A lot of money is always needed to operate a power plant in order to maintain the systems functional. Consequently, if we are short on resources, maintaining the system is virtually impossible, he said.
The Electricity Company of Ghana (ECG) settled debts to all IPPs for the months of June and July after earlier concerns expressed by the power generation companies.
Leila Abubakari, the External Communications Manager for the ECG, also revealed that the required steps had been taken to guarantee that the arrears owing to the IPPs will finally be resolved.
Mr. Apetorgbor attested to the IPPs' receipt of payment for August and the ECG's assurance of ongoing, regular payment.
"ECG provided us with a guarantee. That is a never-ending process. The agreement states that all outstanding invoices will be substantially paid moving forward. It is done to stop further accumulation. ECG is attempting to accomplish that. We are confident that little will accumulate.
"And what we are currently receiving is minimal; we pray that it will be maintained and enhanced. We have received it for August, so moving forward, we are expecting it for September as well, he said.
Mr. Apetorgbor indicated that plans had been made to see to the settlement of any outstanding arrears.
He reaffirmed that the IPPs remained "opposed to anything dubbed Debt Restructuring" in the interim. We are willing to consider a payment schedule. To us, payment frequency is what matters.
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