Gov’t clears $1.47 billion energy legacy debts

He said the savings formed part of broader reforms aimed at reducing the cost of power generation and strengthening the financial position of the energy sector.

He singled out the Electricity Company of Ghana (ECG) as a critical link in the financial sustainability of the energy sector, stressing that the inability of ECG to recover revenues had implications for the entire electricity supply chain.

He said the measures were helping to reduce the accumulation of arrears in the power sector, which stood at about GH¢80 billion when the Government assumed office.