The Electricity Company of Ghana (ECG)’s losses increased in the first nine months of 2023. As of September 2023, the corporation had recorded a total collection loss of GH2, 050,373,143.47.
The money that is not received owing to nonpayment, delinquency, or bad debt from renters or customers is referred to as collection loss.
The figure is in comparison to the company’s overall loss of GH2, 448,770,084.34 in 2022.
This was revealed by Dr Matthew Opoku Prempeh, the Energy Minister, during an update on the country’s electricity situation in Accra on Thursday.
In terms of system losses, he stated that the ECG has reported a loss of GH4,038,241,812.63 as of September 2023, compared to a loss of GH2,599,695,242.10 in 2022.
Mr Prempeh further stated that the business had technical losses of GH1,279,369,021.42 in September 2023, compared to GH2,758,872,792.21 in 2022.
In terms of commercial losses, the Energy Minister stated that the ECG lost GH2,758,872,791.21 as opposed to GH1,852,597,985.96 in 2022.
