The Chief Executive Officer of the Chamber of Independent Power Producers, Elikplim Kwabla Apetorgbor, says the debt owed IPPs will not be restructured as long as the arrears represent the exact cost of their service.
Speaking on Joy FM’s Top Story on Monday, July 31, Mr Apetorgbor stated that the IPPs debt will not allow any restructuring by the government under any circumstance.
His comments come after the Finance Minister, Ken Ofori-Atta during the presentation of the Mid-year budget, noted that his outfit is engaging with Independent Power Producers (IPPs) to address the impact of excess capacity payments on the economy.
According to Ken Ofori-Atta, government is considering ways to restructure its accrued debts.
He noted that the discussion will also be geared towards the elimination of payment shortfalls and arrears accrual in the energy sector.
But the IPPs say they are only open to payment plan and not restructuring.
“I think we have been very emphatic with our position regarding a debt restructure unless it is something different from what I have in mind. And it is a question of what you want to restructure. And we have always indicated that our arrears are actually our cost of service and for that matter, it is not under consideration for restructuring,” he insisted.
The CEO of the Chamber of Independent Power Producers said government had proposed a renegotiation and not engaged them in a restructuring of debts.
He explained that the IPPs are comfortable with the renegotiation because it is flexible, and that the contract portions can be considered under such terms.
Latest Stories
-
Actors Jonathan Majors and Meagan Good are engaged
1 min -
Expired rice saga: A ‘best before date’ can be extended – Food and Agriculture Engineer
9 mins -
Why I rejected Range Rover gift from a man – Tiwa Savage
10 mins -
KNUST Engineering College honours Telecel Ghana CEO at Alumni Excellence Awards
43 mins -
Postecoglou backs Bentancur appeal after ‘mistake’
53 mins -
#Manifesto debate: NDC to enact and pass National Climate Law – Prof Klutse
1 hour -
‘Everything a manager could wish for’ – Guardiola signs new deal
1 hour -
TEWU suspends strike after NLC directive, urges swift resolution of grievances
1 hour -
Netflix debuts Grain Media’s explosive film
2 hours -
‘Expired’ rice scandal: FDA is complicit; top officials must be fired – Ablakwa
2 hours -
#TheManifestoDebate: We’ll provide potable water, expand water distribution network – NDC
3 hours -
IPR Ghana@50: Pupils educated to keep the environment clean
3 hours -
PenTrust CEO named ‘Best Pensions CEO’, company wins ‘Scheme Administrator Award’ at Ghana Accountancy & Finance Awards 2024
3 hours -
Alan Kyerematen’s ‘Brighter Future for Health Professionals’ in Ghana Revealed in Bono
3 hours -
#TheManifestoDebate: NPP will ensure a safer, cleaner and greener environment – Dr Kokofu
3 hours