The government and Independent Power Producers (IPPs) in the country are scheduled to hold a crunch meeting to discuss the outstanding debts owed to the producers. This follows a letter from the IPPs threatening to suspend power supply starting from July 1, 2023, if an interim payment of 30% of the outstanding debts is not made.
The IPPs have expressed their inability to continue supplying power to the national grid beyond June 30 unless they receive payment for the outstanding debts they are owed.
Recognizing the urgency of the situation and the potential consequences of a power supply shutdown, the government has taken steps to address the issue. A meeting with the Minister of Finance has been arranged and is set to take place this week.
Elikplim Kwabla Apetorgbor, the CEO of the Independent Power Producers, Distributors, and Bulk Consumers, has voiced frustration over the delay in payment. He has emphasized that the IPPs expect to receive a payment within the agreed credit days for the services they have provided.
The upcoming meeting with the Minister of Finance aims to establish a payment plan that addresses the outstanding debts and ensures an uninterrupted power supply to the national grid. The IPPs are eager to find a resolution that safeguards the sustainability of the power supply and mitigates any potential negative consequences that may arise from a shutdown.
