The Electricity Company of Ghana (ECG) has been able to recoup over GH¢2 billion from its defaulting customers within the last few weeks.
The company in its one-month-long revenue mobilization is eyeing to recover some GH¢5.7 billion from individuals and firms who have failed to pay for power used.
Managing Director of ECG, Samuel Dubik on Face to Face on Citi TV was hopeful his outfit will be able to collect more from defaulters by the end of the exercise this week.
The ECG exercise has forced both government and private institutions to cough up some funds to settle outstanding debt to avoid disconnection.
Some institutions were not disconnected from the national grid following the show of commitment to settle their debts.
The ECG is also said to be indebted to some of its partners hence the revenue mobilization efforts.
For instance, independent power producers (IPPs), the electricity generation companies that control 50 percent of the country’s generation mix, have called on the government to urgently settle its indebtedness to them.
The nine companies said the Electricity Company of Ghana (ECG) owed them about the cedi equivalent of $1.4 billion.
But the ECG boss is also looking at clearing its debts with the amount of money retrieved.
The Cash Waterfall Mechanism (CWM) is a system created by the government to centralize revenue collection and ensure transparency in what has been collected and who is due what payment.
The system is also to ensure that the off-taker, the ECG, does not use its discretion in paying IPPs, but each must have what it is owed.
