ECG MD laments effects of cedi depreciation on operations

The Electricity Company of Ghana (ECG) attributed its 2022 financial losses to the depreciation of the Cedi against the dollar, citing higher costs for purchasing meters, transformers, and paying Independent Power Producers (IPPs) in foreign currency.

Deputy Energy Minister Collins Adomako-Mensah and ECG MD Samuel Dubik Mahama revealed that distribution and administrative expenses have increased significantly due to these forex costs.

Mahama also addressed recent billing disputes and announced plans to enhance community education about meter usage and energy conservation, amid a 75% tariff increase by the PURC.