Samuel Atta Akyea, Chairman of the Energy Committee in Parliament and representing the Abuakwa South constituency, warns that strict adherence to the Cash Waterfall Mechanism (CWM) could spell disaster for the ECG .
He clarified that while the Cash Waterfall Mechanism isn’t legally binding, it serves as a governmental guideline dictating how ECG manages its finances. Despite ECG’s efforts, he highlighted a persistent revenue shortfall, leading to an inadequate budget for essential services.
He stressed that prioritizing other power companies over the Electricity Company of Ghana under the Cash Waterfall Mechanism would severely impact ECG’s ability to function, potentially leading to dire consequences.
“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.
You wouldn’t want to have a policy which is so stringent that ECG with all the challenges complying fully with the Cash Waterfall Mechanism will run aground and then have double trouble.” he said on JoyNews’ Newsfile on Saturday, March 30.
He asserts his backing for the Public Utilities Regulatory Commission (PURC) in instructing the ECG to provide a comprehensive report on operations.
“The regulator is actually a creator of law. If you pay regard to Act 538, there is nothing that PURC is doing which is untoward.”
He need for caution on the PURC handling technical matters to prevent the potential collapse of ECG.
In the meantime, Mr. Akyea has called upon the ECG to provide a timetable for the ongoing power outages.
He highlighted the inconvenience caused by sudden electricity disruptions due to the lack of prior notice .
A schedule, he emphasized, would allow people to adapt to the unstable electricity situation, enabling them to plan their activities
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