The Ghana Grid Firm Confined (GRIDCo) has disconnected ability source to the Volta Aluminum Company Limited (VALCO), subsequent failure of the organization to settle in excess of $30million remarkable debt to the electrical power transmitter.
In a press assertion Monday, GRIDCo explained that the determination was created by the Management of GRIDCo after many tries to get VALCO to honour its payment obligations unsuccessful.
It added, “The disconnection is element of ongoing financial debt collection actions to mobilise the necessary funds to aid its functions.”
GRIDCo’s functions have been significantly impaired because of to big unpaid debts owed by its bulk shoppers, presently amounting to about GH¢1.2billion.
At its new Once-a-year Typical Conference (AGM) in November 2019, the corporation introduced that its community growth initiatives have been hampered owing to the present financial predicament.
The Chief Govt of GRIDCo Jonathan Amoako-Baah mentioned, “We engage in a critical function in Ghana’s electricity sector and we will need each and every source readily available to us to keep on offering on our mandate to our vital stakeholders and consumers.”
“VALCO’s debts carry on to mount and will develop main problems for our functions if very little is performed about it. We have been participating the administration of VALCO because the 1st fifty percent of this 12 months to agree on a payment plan but very little has occur out of it.
“We have been left with no alternative as our continued condition of affairs is unsustainable. We just take the prospect to entreat other buyers indebted to GRIDCo to acquire actions to settle their debts.”
GRIDCo employees protest about ‘huge money owed’
On December 3, 2019, GRIDCo employees strike the streets of Accra to protest substantial money owed owed the enterprise by power transmitters. The agitated workers of GRIDCo massed up at the Black Star Sq. to start out the protest march to the Finance Ministry and the Electricity Corporation of Ghana.
GRIDCO leadership has been pushing for hundreds of thousands of debts owed it by ECG, the Northern Electrical power Distribution Business (NEDCo) and the Volta Aluminum Business (VALCo) to be settled.
GRIDCo is a main energy transmission organization in West Africa. It operates the Ghana Wholesale Electrical energy Current market and offers electrical energy transmission companies in Ghana and West Africa.