ECG MD, Samuel Dubik Mahama The Electricity Company of Ghana has again cited the depreciation of the Cedi against the dollar for its net exchange losses recorded in the 2022 financial performance report. Appearing before the Public Accounts Committee on August 12, the Deputy Energy Minister Collins Adomako-Mensah and Managing Director of the Electricity Company of Ghana, Samuel Dubik Mahama explained the reasons for the loss. Among the reasons he cited are payment to the IPPS in foreign currency, the purchasing of meter, transformers also in dollars and other components. Member of Parliament for Buem, Kofi Adams said the financial performance for 2022 doesn't look good if compared to the 2021 report. According to him, the company's distribution expenses rose to 32.6% and administrative expenses also saw a rise of 36.3%.