IPPs

A guidance to the Ghana National Petroleum Corporation (GNPC), Electricity Company of Ghana (ECG) and Power Distribution Services (PDS) to pay independent power producers (IPPs) and gas suppliers (GSs) has been pulled back.

The guidance was given on Thursday, August 1 by the Ministry of Finance to have the IPPs and GSs paid distinctly for power and gas expended.

In any case, after it started re-exchanges with the IPPs and GSs, the Ministry declared that more extensive discussions would need to be completed.

A gathering facilitated by the Ministry and the Energy Ministry with the IPPs and GSs chose to set up a controlling advisory group under the Energy Sector Recovery Task Force to determine the ‘take-or-pay’ control contracts.

The agreements, the Ministry has kept up, are devastating the vitality area and hence having a heading on the economy.

As indicated by the Finance Ministry, there has been “dynamic support” of the IPPs and gas makers so far in the counsel procedure.

“Government respects the dynamic support of IPPs and GSs in the important errand looking for an oversaw change from the present model towards a reasonable relationship equipped for conveying reasonable, long haul vitality arrangements that reflect reality and ofer long haul maintainability for IPPs and GSs in Ghana,” an announcement issued by the Coordinating Director of the Ministry, Michael Ayesu, on Friday said.

The interview procedure is to take an underlying three months.

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