Home Politics CID to investigate Power Purchasing Agreement that resulted in $170m judgment debt – AG
Politics - June 23, 2021

CID to investigate Power Purchasing Agreement that resulted in $170m judgment debt – AG

CID to investigate Power Purchasing Agreement that resulted in $170m judgment debt – AG

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The Attorney General, Godfred Yeboah Dame has disclosed his intention to lodge a formal complaint with the Criminal Investigations Department (CID) to investigate the Power Purchasing Agreement signed between the erstwhile NDC government and Ghana Power Generation Company (GPGC).

According to him, a report by a committee constituted in September 2016 revealed that the agreement was not properly made resulting in excessive power supply.

Speaking on Top Story, Mr Dame blamed the signatories to the agreement for the $170 million judgement debt that the government of Ghana has been instructed to pay to GPGC, by a Commercial Court in London, for unlawful termination of contract.

He said, “the fact as borne out by the PPA committee’s report was that the agreement, together with other agreements, had resulted in such excessive power supply to the state. The state was going to lose $586m per annum and a cumulative cost of about $7.6billion dollars between 2013 and 2018.”

“So I think that when it comes to financial loss, it is so clear in my mind that the responsibility lies clearly with those who entered into the agreement. The basic point is that the entry into this transaction was unnecessary. The entry into this transaction was what resulted in financial loss to the state.”

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