We appreciate 'Money Waterfall Mechanism" yet it keeps us from income - IPPs Chamber to ECG MD
The Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDiB),has portrayed the Cash Waterfall Allocation stage given by the Electricity Company of Ghana as ineffectual, keeping its individuals from income to meet their commitments.
In an explanation to laud the arrangement of Dubik Mahama as the Managing Director of the power merchant, the Chamber said it is restlessly trusting that ECG will gather more income and make great the obligation of more than $900 million sooner or later. The Cash Waterfall Mechanism stage is to assist the Chamber with dealing with all the income gathered by ECG and dispense to all leasers including the IPPs decently and straightforwardly.
"We value the Cash Waterfall fair portion stage however it keeps us from income and has not satisfied a definitive adequate income distribution assumption to meet our commitments."
As of now, ECG, is burdened with obligations to the IPPs worth about$ 900 million.
"You are helming the ECG during a period that ECG's maintainability is burdened with obligations to the IPPs worth about USD$900 million".
While, the Chamber praised the MD for accepting his new job, it needs Mr. Mahama to satisfy hopes by guaranteeing ECG's obligation to the IPPs is decreased.
It added "while we turn upward restlessly to you to gather more income and make great this obligation sooner or later, we hope everything works out for you and promise our help, participation and eagerness to give thoughts for your prosperity on the grounds that your prosperity is our prosperity".
It finished up encouraging the new MD to expand on the sound relationship he has created with the IPPs in his then limit as the Chairman of the Energy Trading Committee of ECG Board.
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