Finance Minister warns against deviation from revised cash waterfall mechanism by ECG [Video]

Finance Minister, Dr Mohammed Amin Adam has warned that any deviation from implementing the revised Cash Waterfall Mechanism could make the energy sector crisis even worse.

The revised mechanism is designed to ensure fair and equitable allocation of revenues accruing from electricity tariffs approved by the Public Utilities Regulatory Commission.

The Electricity Company of Ghana must distribute the tariff revenues it collects among all sector players along the electricity value chain.

According to the latest audit report by the Price Water House Coopers, the ECG has not been paying to some of the players.

Speaking to JoyNews, the Finance Minister stated that failure to adhere to the terms of the Cash Waterfall Mechanism is only adding to the debt in the energy sector.

“The energy sector continues to be a bother for us because the arrears as we know of today are still huge on our books.

“However, we’ve seen …