ECG boss saved the power sector in 2023 – Apetorgbor

Dr. Apetorgbor highlighted the creativity and leadership of the ECG MD, which rescued the nation’s power situation on June 30, 2023.

Despite facing criticism for recent power outages in parts of the country, Mr. Dubik Mahama’s efforts have been recognized.

In a statement issued on March 23, 2024, Dr. Apetorgbor noted that the ECG MD’s determination and understanding made significant progress in the energy sector during the Ministry of Energy’s absence.

 “The financial woes of IPPs posed a dire threat to the country’s energy landscape. As key contributors to the national grid, our instability jeopardized not just the sector’s sustainability but also the economic stability and development prospects of the nation.

“The situation demanded urgent and innovative solutions to avert a full-blown power crisis that could have had far-reaching implications for the country’s populace and economy.

“It took the ingenuity and leadership of the Managing Director of the Electricity Company of Ghana (ECG) in the last hour of June 30, 2023, to save the situation.

“While the Ministry of Energy’s absence was a glaring gap, the empathy and resilience shown by the ECG’s Managing Director is a demonstration of effective leadership, and competence and has indeed saved the power sector.”

 

Read below the statement by Dr. Elikplim Kwabla Apetorgbor

 We survived the power sector financial crisis by the ingenuity of Mr. Dubik Mahama

The past four years of the energy sector have faced significant challenges, marked by a lack of clear direction and oversight.

This period has seen Independent Power Producers (IPPs) grappling with severe financial crises, raising concerns about the stability and reliability of the country’s power supply.

Amidst this turmoil, the absence of a guiding hand from the Ministry of Energy was conspicuously felt, leaving the sector in a state of uncertainty.

The financial woes of IPPs posed a dire threat to the country’s energy landscape. As key contributors to the national grid, our instability jeopardized not just the sector’s sustainability but also the economic stability and development prospects of the nation. The situation demanded urgent and innovative solutions to avert a full-blown power crisis that could have had far-reaching implications for the country’s populace and economy.

It took the ingenuity and leadership of the Managing Director of the Electricity Company of Ghana (ECG) in the last hour of June 30, 2023 to save the situation.

Recognizing the imminent threat, the Managing Director implemented a strategic intervention to safeguard the nation’s energy supply. He managed to ring-fence $43 million monthly to us and ensured that the financial resources were allocated efficiently and transparently, directly addressing the liquidity challenges facing the respective IPPs.

This decisive action underscored the importance of creativity and innovation in leadership, especially in times of crisis. The ring-fencing initiative not only stabilized the IPPs’ financial positions but the entire sector.

 While the Ministry of Energy’s absence was a glaring gap, the empathy and resilience shown by the ECG’s Managing Director is a demonstration of effective leadership, competence and has indeed saved the power sector.

Dr. Elikplim Kwabla Apetorgbor
CEO, Independent Power Generators Ghana (IPGG)

March 23rd, 2024

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Source: www.citinewsroom.com


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