Energy analyst, Benjamin Nsiah, says although the Mahama administration has repaid a total of US$1.47 billion to settle part of the energy legacy debt, the sector is not yet out of the woods.
He explains that Ghanaians will still be required to pay the Energy Sector Levy Act (ESLA) to help clear existing debts at the Electricity Company of Ghana (ECG) and to accelerate electricity access to small communities that remain off the national grid.
The Energy Sector Levy Act, promulgated in 2015, is aimed at creating dedicated levies on petroleum products and electricity to tackle Ghana’s significant energy sector debt.
According to him, “while ECG carries a significant debt burden, the company should not always be blamed, noting that in some cases, the challenges stem from unfavourable contracts signed in the past.” He said on Onua FM’s Yen Nsempa morning show on Tuesday, January 13, 2026.
In a statement released on Monday, January 12, the Ministry of Finance stated that, as of December 31, 2025, the John Mahama administration had repaid a total of US$1.47 billion to rescue and reset the energy sector.
According to the statement, when President John Dramani Mahama assumed office in January 2025, the sector was on the brink of collapse due to years of non-payment for gas supplied to the power sector from the Offshore Cape Three Points (OCTP) field.
This situation had led to the complete depletion of the US$500 million World Bank Partial Risk Guarantee (PRG) under the previous administration.
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