Atta Akyea warns of ECG's potential collapse due to full compliance with Cash Waterfall Mechanism
Samuel Atta Akyea
Samuel Atta Akyea, Chairman of the Energy Committee of Parliament and MP for Abuakwa South constituency, has raised concerns about the possible collapse of the Electricity Company of Ghana (ECG) if it fully complies with the Cash Waterfall Mechanism (CWM).
Read full articleIn an interview on JoyNews’ Newsfile, Atta Akyea clarified that while the Cash Waterfall Mechanism is not legally mandated, it serves as a government policy guiding ECG's financial management.
He highlighted ECG's ongoing revenue shortfall, stressing that if the CWM prioritises certain power companies over ECG, the consequences could be severe.
“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
Atta Akyea expressed support for the Public Utilities Regulatory Commission (PURC) directing ECG to provide a detailed report of its operations, noting that PURC has the authority to enforce regulations in line with Act 538.
However, he cautioned PURC to consider the potential impact on ECG's stability when addressing operational issues.
In addition, Atta Akyea urged ECG to publish a schedule for power outages to help the public anticipate and adjust to disruptions in electricity supply, enabling better planning for daily activities.
