Gov’t yet to communicate changing of ”Take or Pay” to ”Take & Pay”-Chamber

The Chamber of Independent Power Producers, Power Distributions Companies and Bulk Customers has disclosed that the chamber has not been informed over recent decision by government to covert all ‘’Take or Pay’’ contracts to ‘’Take and Pay’’.

Executive Secretary of the chamber, Elikplim Kwabla Apetorgbor has in an interview noted that Starr Business’ Osei Owusu Amankwaah that government is yet to engage them on the new move.

The Finance Minister on Monday in his mid-year budget review presentation declared a ‘’state of emrgency’ in the energy sector on Monday, a situation he said was causing the state to bleed scare financial resources.

The challenges in the energy sector, Ken Ofori-Atta stated, could pose grave financial risks to the entire economy.

“At the heart of these challenges are the obnoxious take-or-pay contracts signed by the NDC, which obligate us to pay for capacity we do not need.’;’

He said the country was paying over GH¢2.5 billion annually for some 2,300MW in installed capacity which the country does not consume.

“We shall from August 1st 2019, with the support of Parliament, make take-or-pay contracts a beast of the past,” he stressed.

But reacting to the issue,Mr Elikplim Kwabla Apetorgbor, said the Chamber of Independent Power Producers, Power Distributions Companies and Bulk Customers is ready to renegotiate the contract but will ensure it will not be to their detriment.

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