The country is on the verge of a power crisis as Karpowership, the operative of a floating power plant at Aboadze in the Western Region, has browbeat to stop operations due to a $379 million bill owed by the Electricity Company of Ghana (ECG).
This shocking development was revealed during a meeting on Monday between the Minister of Energy and Green Transition, John Abdulai Jinapor, and executives of Karpowership at the ministry.
In reaction to the threatening shutdown, Mr. Jinapor entreating with Karpowership to exercise restraint while the new management inspect ways to clear the undone bill.
But, industry analysts tell that if Karpowership follows through with its warning, Ghana could experience severe power shortages, potentially disrupting businesses, industries, and households.
The energy zone has been wrestling with a growing financial load, with total bills exceeding $3 billion as of January 12, 2025.
The International Monetary Fund (IMF) has often notified that without serious zone, the zone faces looming collapse. It has advised the authorities to execute cost-cutting measures, upgrade revenue collection, and restructure power agreements to ensure financial sustainability.
“We acknowledge the severity of the situation and are committed to finding a sustainable solution to address the financial obligations. We appeal to our partners to bear with us as we navigate these challenges,” the minister said.
Source: Chaleradio.com
