The decision, which was disclosed in an official statement on 16th October, has sparked concerns over the stability of the country's electricity supply.
The company's Chairman, Qun Yang, stated that the shutdown occurred at 5 PM on the 8th of October due to ECG's failure to settle its outstanding financial obligations. "This difficult decision was necessitated by our inability to fund our operations because of the failure of the Electricity Company of Ghana to honour their overdue payment obligations and their various promises to that effect," Yang explained.
The chairman pointed out that, unlike other independent power producers, Sunon Asogli has been lenient with ECG, even refraining from invoicing for idle capacity charges.
However, despite this, ECG's debt to the company stood at $259 million (excluding fuel costs) as of the end of September 2024.