Akufo-Addo's ESLA revenue misapplication balloons energy sector debt to US$2bn - Minority

The mismanagement of the Energy Sector Levy Act by the Akufo-Addo government has led to an escalated sector debt of more than US$2 billion, the Minority Caucus in Parliament has said.

It thus wants a comprehensive audit done to clarify the true state of the sector debt.

The caucus also accuses the ministry of finance of failing to pay a GH¢1.8 billion power bill of the Ministries, Departments, and Agencies (MDAs) since August 2023.

Caucus Spokesperson on energy, John Jinapor, told journalists that the Public Utilities Regulatory Commission has "indicated that ECG is not abiding with the Cash Waterfall Mechanism, and it is the mechanism that allows companies and entities throughout the energy sector value chain to get some revenue or payment, that has been jettisoned."

"Clearly, they are just trying to manage the system and hand over a dilapidated, ageing equipment, collapsed energy sector to President Mahama when he assumes office," Jinapor complained.

In his view, “A lot of work awaits President Mahama when he assumes office."

He added: "The energy sector debt alone, based on our rough estimate, is around $2 billion as we speak."

"They are misapplying the energy sector levy revenues, and they are also misapplying the energy sector recovery levies,” he alleges.