VRA pushes for 100% cash waterfall payments

The VRA maintained that although the revenue-distribution mechanism, introduced more than six years ago, had significantly improved its cash flow and liquidity, the authority currently received between 60 per cent and 75 per cent of its bills in some instances, while independent power producers (IPPs) received 100 per cent of what was due them.

The Volta River Authority (VRA) has called for a review of the cash waterfall mechanism (CWM) to enable state-owned power companies to access their full share of electricity revenue to strengthen their operations.“The introduction of the CWM has really improved the cash flow and liquidity of the authority, but still the VRA is not receiving 100 per cent of its bills, and so we are unable to do all the things that we would like to do to serve the country better,” the Board Chairman of VRA, Jabesh Amissah-Arthur, told journalists in Accra after the 16th stakeholders’ interface and annual general meeting (AGM) of VRA last Thursday.