The Electricity Company of Ghana (ECG) has terminated its agreement with Power Distribution Services (PDS) with immediate effect. The company says it has assumed full control of the power distribution business in the country. A statement issued by ECG a while ago and copied to the media read in part that ‘’ECG has therefore assumed […]
CHANGE OF FINANCIAL GUARANTEE TO INSURANCE GUARANTEE. The condition precedent for financial guarantee by the Banks was PURC tariffs and the list of Power Purchase Agreements (PPA). However, PURC refused to increase the tariffs as agreed. ECG owns more than GHC4 Billion of debt from Power Producers. So in the absence of any proper tariff, […]
By Elvis DARKO, Accra Power Distribution Services (PDS) Ghana Limited has listed a number of operational improvements realised in the first four months of its operations in the Southern Distribution Zone. GH₵3.3bn ECG debt reduced by over GH₵1bn The company said Electricity Company of Ghana’s (ECG) outstanding debt of about GH₵3.3 billion, which has been […]
The President of the Republic, Nana Addo Dankwa Akufo-Addo, says the government suspended the Power Distribution Services (PDS) agreement in the interest of the public, and to protect the assets of the Electricity Company of Ghana (ECG) worth over $3 billion. According to President Akufo-Addo, the decision to make the suspension of the PDS agreement […]
The Millennium Development Authority (MiDA) has stated that Al Koot, Qatar-based insurance & reinsurance company, duly notarised the Guarantees provided by Power Distribution Service in accordance with Qatari law verifying their authenticity. It said in order to ensure the enforceability of the Guarantees, MiDA insisted on having the Guarantees notarised, which was duly done. MiDA […]
Government has suspended its concession agreement with the Power Distribution Services (PDS) bringing back the Electricity Company of Ghana (ECG) in full control. According to Information Minister, Kojo Oppong Nkrumah, the decision was taken after government detected “fundamental and material breaches of PDS’s obligation in the provision of Payment Securities (Demand Guarantees) for the transaction […]
Government suspended the concession agreement with Power Distribution Services (PDS) after discovering that the person it had been dealing with was a fraudster, 3news.com has gathered. It is now emerging that the officer who executed the Demand Guarantees (Lease Payment Security and BSA Payment Security) submitted by PDS was not authorized. PDS was supposed to […]
United Krobo Foundation a pressure group in the Lower Manya Krobo Municipality is calling on the Power Distribution Services (PDS) to write -off the purported debt of Ghc84,625,624.87 it claims to be accumulated bill owed it by customers in the Krobo area. Addressing the media on Sunday, the pressure group said Krobos cannot pay the […]
The Electricity Company of Ghana (ECG) says it is still in business providing value addition services to its numerous clientele, urging the public to take advantage of its diversified services to improve on their operations. Addressing journalists in Accra, Thursday, June 6, 2019, the Managing Director of ECG, Ing. Samuel Boakye-Appiah, said following the lease […]
The Electricity Company of Ghana Limited (ECG) is to utilise fibre optic backbone to venture into the provision of data and broadband services. It also plans to position itself to become the regulator for the renewable energy sector in Ghana. ECG currently has 112 staff. Ing. Samuel Boakye-Appiah, Managing Director of ECG, announced this as […]
Coordinator of Third World Network-Africa, Dr Yao Graham has revealed that the Electricity Company of Ghana (ECG) was forced by political pressures to sign agreements with power plants owners leading to its privatization. ECG was handed over to Power Distribution Service (PDS) in March after the privatization process was completed. The country has in the […]
Residents of Odumase Krobo in the Lower Manya Krobo Municipality of the Eastern Region have blocked the Kpong–Somanya road protesting the unannounced power outages in the area. Mainly the youth set ablaze lorry tyres at strategic intersections around Nuaso and Abanse Bank Junction respectively and chanting war songs. As at the time of filing this […]
