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GRIDCo Losing Revenue Due To Tariff Reduction In Electricity   
 
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12-Jul-2018  
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The Ghana Grid Company (GRIDCo) is losing 280 million cedis due to the recent reduction in electricity tariff by the Public Utility Regulatory Commission.

          Mr Jonathan Amoako-Baah, Chief Executive Officer of GRIDCo, who revealed this, said the revenue loss could affect the effective operations of the Company.

          Mr Amoako-Baah, said this on Wednesday during a media encounter in Tema as part of activities to mark the company’s 10 years in operations.

          He explained that the amount could be used for operation and maintenance issues, payment of compensation, servicing of loans, among others.

          “Even though the tariff reduction is significant for customers, it is having a negative effect on our operations”, he stated.

          He therefore appealed to the Public Utility Regulatory Commission (PURC) to bring the company back to where its revenue was.

          The GRIDCo CEO added that “if PURC is not increasing our Transmission Service Charges, they should at least bring us back to where we were to let us work efficiently”.

          He added that monies owed them by companies including the Electricity Company of Ghana (ECG) was also negatively affecting their operations.

          According to him, they had written letters to those companies informing them to regularize or face disconnection.

          He however stated that even though ECG consumes about 70 per cent of the power generated and owes GRIDCo 90 million cedis, disconnecting it from the national grid was not an option as it would affect customers’ consumption.

          The company, he said, had registered and obtained a license to operate the Ghana Grid Telecommunications Limited and hoped it would be fully operational within the next two years.
 
 
Source: GNA
 
 

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