of Ghana Public Utility Regulatory Commission (PURC) fined the Electricity Company of Ghana (ECG) 36,000 GHS for failing to submit to the Commission all bank and investment accounts he currently operates.
The PURC also fined each of the company’s board members GHC 5.8 million.
Details
In a letter submitted to the ECG on Monday, April 15, the PURC said it found that “the details of ECG’s bank accounts submitted were incomplete, contrary to the Decree. 3.3 Submission of Information Regarding Operational Matters.”
The information requested relates to the allocation of tariff revenue under the Cash Waterfall Mechanism (CWM), the provision of regulatory control data and the submission of information on operational matters, as well as the provision of other regulatory control data.
Penalties and fines
In breach of control, the Commission imposed an initial regulatory burden 3,000 penalty points on the EKG according to Regulation 45 of LI 2413, amounting to GHC 36,000.
The amount is due to the Commission before April 22, 2024. Failure to pay the fine before the due date will incur an additional 3000 penalty points for each business day that ECG fails to pay.
Additional fines for members of the Board of Directors
The PURC also imposed a regulatory burden of 3,000 penalty points on ECG for each of the 163 offences, amounting to GHC 5,868,000.
The Commission stated that due to the nature of ECG’s business, payment of this amount would affect the quality of service to consumers and therefore imposed the fine on the board members of the company comprising ECG MD, Samuel Dubick Mahama.
Zoom in
PURC said board members were at all times responsible for providing strategic direction to ensure the provision of safe, adequate, efficient, reasonable and non-discriminatory services to consumers.
ECG board members in office from 1 January to 18 March 2024 will pay the regulatory fee of GHS 5,868,000 into a dedicated fuel account under the joint control of the Ministry of Energy and the Ministry of Finance on or before 30 May 2024 from her.
In addition to meeting its ongoing obligations under the Cash Waterfall Facility, PURC ordered ECG to pay the amount GHS446,283,706.29 to category B beneficiaries under CWM.
Zoom out
ECG has been facing challenges with power generation recently. Consumers are experiencing power outages across the country, prompting many to call for a “load shedding” schedule to prepare for the outage.
Source: JoyOnline
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