GRIDCo to hold crunch meeting with gov't today

The Ghana Grid Company Limited (GRIDCo) is expected to hold a crunch meeting with the government today, January 6, 2020, on plans to clear some GHS 1.2 billion debts owed it by bulk clients.

These clients include the Electricity Company of Ghana, ECG, and Northern Electricity Distribution Company, NEDCO.

According to Joy FM's report, the meeting will explore the roadmap in dealing with outstanding energy sector debts.

Chief Executive of GRIDCo, Jonathan Amoako has also been speaking about plans to recover the VALCO debts as well as others.

READ ALSO : Government intervenes as GRIDCo restores power to VALCO

"It got to a time when you go to speak to them, they will give you a payment plan but they don't adhere to that, but I believe that if the Ministry sets in and we all adhere.......to documents which spell out the modalities, you know that money is everything so if you don't have money you cannot do whatever you want to do, so it is affecting us...."

GRIDCo disconnects power to VALCO over $30million debt

The Ghana Grid Company Limited (GRIDCo) on December 30, 2019, disconnected the Volta Aluminum Company Limited (VALCO) from the power grid today over a $30million debt.

GRIDCo in a statement said they did so “after several attempts to get VALCO to honour its payment obligations failed.”

Jonathan Amoako-Baah, Chief Executive of GRIDCo said: “The decision was made by the Management of GRIDCo after several attempts to get VALCO to honour its payment obligations failed. The disconnection is part of ongoing debt collection measures to mobilize the needed funds to support its operations.”

GRIDCo noted that its operations have been “significantly impaired due to huge unpaid debts owed by its bulk customers, currently amounting to over GH¢1.2billion.”

“VALCO’s debts continue to mount and will create major problems for our operations if nothing is done about it. We have been engaging the management of VALCO since the first half of this year to agree on a payment plan but nothing has come out of it. We have been left with no option as our continued state of affairs is unsustainable. We take the opportunity to entreat other customers indebted to GRIDCo to take steps to settle their debts.”