The Electricity Company of Ghana (ECG) has recorded a total of GH¢2, 050,373,143.47 as collection losses as of September 2023.
This is a drop in its losses of about 16% in the first nine months of 2023 compared to losses recorded by the company in 2022.
The company recorded a total of GH¢2, 448,770,084.34 losses in the year 2022.
Collection loss is the income that is not received due to non-payment, delinquency, or bad debt from tenants or customers.
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, November 9.
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.
This is a result of ECG’s rigorous mass disconnection exercise which was also deemed as a revenue mobilization exercise where individuals, public and private companies were taken off the national grid plunging them into darkness.
However, ECG contends that for any debtor that exhibits a commitment to pay where consensus is built between the two parties, power can be restored to them.