The Commercial Division of the Accra High Court has dismissed an application by Power Distribution Services (PDS) challenging the cancellation of its operation licences following the termination of a concession agreement for it to manage the assets of the Electricity Company of Ghana (ECG). Last year, PDS dragged the government to the High Court with […]
Minister of Information, Kojo Oppong Nkrumah, has said the termination of the concession agreement with Power Distribution Services (PDS) won’t affect Ghana’s relations with the United States of America (USA). His comment follows an alert raised by Chairman of the Public Interest and Accountability Committee, Dr Steve Manteaw. “Already the relationship between the two countries […]
Former President, John Dramani Mahama is shocked over the Akufo-Addo government’s handling of the PDS debacle. His comment follows the cancellation of the Power Distribution Services (PDS) concession agreement. John Mahama who was speaking at the inaugural ceremony of the 2020 NDC manifesto committee said, the entire citizenry is disappointed in the current administration because […]
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 […]
General Secretary of the National Democratic Congress (NDC) Johnson Asiedu Nketia has alleged that President Nana Addo Dankwa Akufo-Addo held not less than three meetings with the Millennium Challenge Corporation (MCC) in the US. But he stated that the outcome of those meetings was kept away from the good people of Ghana. Addressing journalists in […]
John Jinapor, a former Deputy Power Minister, has also called for negotiations around Power Distribution Services (PDS) concession to end. Speaking on Eyewitness News, Mr. Jinapor said the whole agreement needed to be cancelled if the government indeed suspected fraud. “If its fraud, cancel the whole agreement. There can be no negotiation so the issue of […]
Transaction advisors in a concession agreement with the energy company, Power Distribution Services (PDS) have been accused of shifting blame after controversy gutted the agreement. In the controversy, Power Distribution Services (PDS) have been found to lack the financial capacity to provide $12.5m in guarantees when they took over ECG management in March 2019. PDS […]
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 […]
The Public Utilities Workers Union (PUWU) has jumped to the defence of Power Distribution Services (PDS), describing the government’s suspension of the concessionaire agreement as unfortunate. PUWU has also criticised government’s decision to freeze PDS accounts following the detection of potential fraud in Payment Securities (Demand Guarantees) for the agreement to take over power distribution […]
