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ECG On The Verge Of Collapse –Atta Akyea Declares:
Chairman of the Energy Committee of Parliament and MP for Abuakwa South constituency, Samuel Atta Akyea says that full compliance with the Cash Waterfall Mechanism (CWM) could potentially lead to the collapse of the Electricity Company of Ghana (ECG).
He clarified that the Cash Waterfall Mechanism, while not enshrined in legislation, is a government policy outlining how ECG should manage its financial affairs.
Mr Akyea stated that ECG faces a revenue shortfall despite its efforts, resulting in insufficient funds to cover the services it provides.
He emphasised that if the Cash Waterfall Mechanism is pushed to prioritise certain power companies, leaving minimal resources for ECG to function, the implications would be dire.
“If we are not careful and we comply fully with the Cash Waterfall Mechanism, ECG will comatose because it doesn’t generate enough money to be operational,” he said on Saturday, March 30.
He added, “You wouldn’t want to have a policy which is so stringent that ECG with all the challenges complying fully with the Cash Waterfall Mechanism will run aground and then have double trouble.”