GRIDCo has warned to disconnect power on December 30 if its debt is not settled by then.
ECG, NEDCo & VALCO debt to GRIDCo hit GH¢814 million. According to GRIDCo, the Volta Aluminum Company Limited (VALCO) owes it 30-million dollars while Electricity Company of Ghana (ECG) and Northern Electricity Distribution Company(NEDCo) also owed about 607 million cedis and 177 million cedis respectively.
GRIDCo has recorded losses for the last three consecutive years culminating in net losses of GH¢ 114.3 million. The scale of indebtedness of the three companies is impeding the smooth operations of the company.
These revelations were made during a recent annual general meeting of the company held in Accra. Mr Jonathan Amoako-Baah, the Chief Executive of GRIDCO, who disclosed this at the annual general meeting said the loss-making trend in their performance needed to be a concern to all.
Different sections of GRIDCo staff have held various press conferences to demand payment of these debts owed them by the aforementioned companies.
Though the Chairman of the company has said, they are committed to ensuring continuous power supply, it has become very difficult for the company to deliver what it has promised and committed to.