The National Democratic Congress (NDC) has blamed the Akufo-Addo-led administration for deliberately causing financial loss to the state in its case against Ghana Power Generation Company (GPGC) heard by a Commerical Court in London.

According to the party's Communications Officer, Sammy Gyamfi, the state being slapped with a $170 million judgement debt is due to the government's willful recklessness accompanied by its frivolous excuses.

Speaking at a press briefing, Monday, Mr Gyamfi noted that the awarding of $170 million as damages to the claimants; GPGC was totally avoidable.

"Ladies and gentlemen of the media, it is crystal clear from the foregoing facts that are contained in the arbitral award that this $170 million has been occasioned by the criminal negligence, incompetence and recklessness of the Akufo-Addo government.

"Their willful recklessness in terminating the GPGC EPA on the basis of contrived and frivolous excuses is the reason why Ghana has been slapped with this avoidable judgment debt," he stated.

The incumbent government terminated the GPGC Emergency Power Agreement (EPA) contract in 2018. The said agreement was signed on June 3, 2015, under the erstwhile John Mahama administration.

The London Court, which served as an arbitrator on the GPGC case refused an extension application filed by the state through Attorney General, Godfred Dame and State attorneys to challenge the award worth over US$134 million in favour of the power provider.

Reasons provided for government's failure to meet the 28-day deadline were the 2020 general elections and the Covid-19 pandemic. The ruling read by Mr Justice Butcher also added that the state’s grounds for challenging the award were “intrinsically weak”.

Mr. Gyamfi in his interaction with the press disclosed that the incumbent government knew that terminating its contract with GPGC was wrong, hence assured the management of GPGC of taking appropriate steps to reinstate the terminated contract.

"Friends, it will surprise you to know that after the GPGC EPA was terminated and the company appealed to the government to rescind its decision, the Akufo-Addo government acting through the Minister of Energy and his deputy considered that the termination was wrong and gave the company several assurances that the President and cabinet were going to take remedial steps to reinstate the terminated EPA," he revealed.

The information he said is contained at paragraph 486 of the arbitral award.

The NDC has, therefore, named former Energy Minister Boakye Agyarko, the Attorney General and the President as those "jointly responsible for this $170 million financial loss to the state."

According to the opposition party, the terms of the GPGC EPA to a large extent are more favorable in the interest of the Republic of Ghana than all the other PPAs executed at the time.

Meanwhile, Attorney General Godfred Dame has made known to the public his intention to lodge a complaint at the Crime Investigation Department (CID) to investigate the matter.

This is after he explained that those responsible for the judgment debt are the originators and signatories of the said contract and not those who terminated it. One of the said signatories is the former Power Minister under the erstwhile Mahama government, Dr Kwabena Donkor.

“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," he told Joy FM.

On the other hand, the NDC has stated that its next administration will probe and prosecute government officials involved in the termination of the Ghana Power Generation Company (GPGC) contract.