The Chief Executive Officer of the Chamber of Independent Power Producers, Elikplim Kwabla Apetorgbor, says the debt owed IPPs will not be restructured as long as the arrears represent the exact cost of their service.

Speaking on Joy FM’s Top Story on Monday, July 31, Mr Apetorgbor stated that the IPPs debt will not allow any restructuring by the government under any circumstance.

His comments come after the Finance Minister, Ken Ofori-Atta during the presentation of the Mid-year budget, noted that his outfit is engaging with Independent Power Producers (IPPs) to address the impact of excess capacity payments on the economy.

https://myjoyonline.com/ipps-are-being-engaged-to-restructure-accrued-outstanding-balances-finance-minister/

According to Ken Ofori-Atta, government is considering ways to restructure its accrued debts.

He noted that the discussion will also be geared towards the elimination of payment shortfalls and arrears accrual in the energy sector.

But the IPPs say they are only open to payment plan and not restructuring.

“I think we have been very emphatic with our position regarding a debt restructure unless it is something different from what I have in mind. And it is a question of what you want to restructure. And we have always indicated that our arrears are actually our cost of service and for that matter, it is not under consideration for restructuring,” he insisted.

https://myjoyonline.com/ecgs-debt-to-ipps-reaches-2-2-billion-ipps-hold-meeting-on-how-to-retrieve-money/

The CEO of the Chamber of Independent Power Producers said government had proposed a renegotiation and not engaged them in a restructuring of debts.

He explained that the IPPs are comfortable with the renegotiation because it is flexible, and that the contract portions can be considered under such terms.