The Board chairman of the Electricity Company of Ghana (ECG), Tony Oteng Gyasi, has resigned.

Mr. Oteng Gyasi confirmed to Joy Business Friday that he has formally tendered in his resignation for reasons he says are personal.

Sources however say the industrialist cited health reasons as grounds for his resignation.

He was appointed exactly a year ago to turn around the ECG, a power distributor that has largely been bedeviled with inefficiency.

His decision comes at the time the Electricity Company of Ghana is forced to ration power to the chagrin of many consumers especially commercial consumers.

The company this week asked consumers to brace themselves for a severe load shedding exercise following an abrupt cut in the supply of gas from Nigeria. The ECG is now shedding 500 megawatts.

Currently, all gas-powered thermal plants across the country-Asogli plant, Mines Reserve Plant, Finesse plant all in Tema and T3 in Aboadze- have been shut down due to unavailability of gas. This has severely hampered power production in the country.

On Thursday the ECG failed to produce the schedule to guide the load shedding exercise because, it lacked the required information from the power generators, Volta River Authority, to develop the timetable.

Chief Executive Officer of the Ghana Grid Company, William Amuna on Thursday told Joy FM the power system faces imminent collapse if the ongoing load shedding is not managed properly.

Speaking on Joy FM's Super Morning Show, Mr. Amuna said the power crisis could get worse if the ECG fails to properly manage the exercise.

“What is going to happen is that if ECG is not able to do that, we could collapse the power system,” the GRIDco Chief dreaded.