A report by the media indicated that the Public Utilities Regulatory Commission (PURC) has penalized the Electricity Company of Ghana (ECG) with a fine of GH¢36,000 for failing to provide all bank and investment account information to the Commission.
Despite repeated requests with deadlines of March 25, March 27, and April 2, 2024, the information provided by ECG was deemed incomplete, resulting in the imposition of the penalty.
Additionally, ECG has been fined a significant amount of GH¢5,868,000.00 for its failure to comply with the 3-day statutory notice requirement for planned outages.
The responsibility for paying this fine has been shifted to the board members who served from January 1 to March 18, 2024.
They are required to pay the fine into a dedicated fuel account jointly controlled by the Ministry of Energy and the Ministry of Finance by May 30, 2024.
Furthermore, ECG has been directed to settle its outstanding obligations under the Cash Waterfall Mechanism, totaling GH¢446,283,706.29, to Category B beneficiaries by April 30, 2024.
Failure to make this payment will result in consequences for both the board members and management, as per the report.