The Electricity Company of Ghana (ECG) has recorded an increase in its losses in the first nine months of 2023. The company recorded a total of GH¢2, 050,373,143.47 as collection losses as of September 2023. Collection loss is the income that is not received due to non-payment, delinquency, or bad debt from tenants or customers.
The amount is against a total of GH¢2, 448,770,084.34 loss recorded by the company in the year 2022. This was made known by the Energy Minister, Dr Matthew Opoku Prempeh when he gave an update on the country’s power situation in Accra on Thursday. For system losses, he said the ECG had recorded GH¢4,038,241,812.63 loss as of September 2023 as against an amount of GH¢2,599,695,242.10 in 2022.
Mr Prempeh also said the company made technical losses of GH¢1,279,369,021.42 as of September 2023 as against GH¢2,758,872,792.21 in 2022. Regarding commercial losses, the Energy Minister indicated that the ECG lost GH¢2,758,872,791.21 as against GH¢1,852,597,985.96 recorded in 2022.
By: Abigail Arthur