Gov’t Clears $1.47 Billion Energy Debt, Saves $750 Million Through Reforms – Jinapor

Energy Minister John Abdulai Jinapor says government has made significant progress in stabilizing the energy sector through debt clearance and key cost-saving reforms.

Speaking on the sector’s performance, Mr. Jinapor disclosed that government has cleared about $1.47 billion in legacy energy sector debt.

He added that a strategic shift from liquid fuels to gas-fired power generation has saved the country an additional $500 million.

The Minister further revealed that renegotiations with Independent Power Producers (IPPs) have resulted in savings of $250 million.

According to him, reforms to the Cash Waterfall Mechanism have also improved the timely payment of power producers, helping to reduce arrears and boost investor confidence.

These measures are part of government’s broader efforts to ensure financial sustainability in the energy sector and guarantee reliable power supply for households and businesses.

By Deborah Adorsu