PURC directs ECG to settle GHS446m arrears to Category B beneficiaries

Ghanaian

The Public Utilities Regulatory Commission (PURC) has levied fines totaling GHS36,000 on the Electricity Company of Ghana (ECG) for its failure to provide complete details of all bank and investment accounts, despite repeated requests from the Commission.

In accordance with regulatory requirements, PURC imposed an initial penalty charge of 3,000 penalty units, equivalent to GHS36,000, on ECG for incomplete submission

Read full articleof bank account details related to tariff revenue allocation and regulatory audit data.

Additionally, ECG has been fined GHS5,868,000 for its failure to comply with statutory requirements regarding the notification and publication of planned outages.

Due to financial constraints faced by ECG, the Commission holds board members accountable for the GHS5,868,000 fine, requiring them to pay into a dedicated fuel account controlled jointly by the Ministries of Energy and Finance.

Moreover, ECG is mandated to settle GHS446,283,706.29 to Category B beneficiaries under the Cash Waterfall Mechanism, covering revenue collected but unpaid from August 2023 to February 2024, by April 30, 2024.

Failure to comply with these directives may result in consequences for both board members and management, with PURC monitoring adherence closely through Cash Waterfall validation reports and periodic regulatory monitoring.