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Company News From Thursday, August 1st, 2019
Source: starrfm.com.gh
2019-08-01
Energy distribution services
The African Center for Energy Policies (ACEP) calls for an immediate ban on the leaders of the Millennium Development Authority (MiDA), the implementing agency for the Ghana Energy Pact.
This call comes in the wake of the government's suspension of power distribution services (PDS) for what it said constituted a fundamental and significant breach of the PDS demand guarantee payment.
The African Center for Energy Policies (ACEP) calls for an immediate ban on the leaders of the Millennium Development Authority (MiDA), the implementing agency for the Ghana Energy Pact.
This call comes in the wake of the government's suspension of power distribution services (PDS) for what it said constituted a fundamental and significant breach of the PDS demand guarantee payment.
The decision follows the detection of substantive and substantial breaches of PDS's obligation to provide payment guarantees (on-demand guarantees) for the transaction that were discovered in subsequent audits.
"On-demand collateral was an essential prerequisite for leasing badets as of March 1, 2019 to secure badets transferred to the dealer. The government is currently conducting a thorough investigation into this case, the outcome of which will determine the next plan of action. "
He added, "The government has taken steps to ensure that distribution, billing and payment services continue uninterrupted. The general public and customers are badured that this development will not interfere with the distribution of electricity services to their customers. "
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