The Electricity Company of Ghana (ECG) disbursed a total of GHS 1,318,670,618.83 for May 2025 under the new Cash Waterfall Mechanism (CWM), in compliance with the approved revenue allocation framework for the electricity market.
This is according to a validation report published by the Public Utilities Regulatory Commission (PURC), which has been tasked with overseeing monthly payments to power sector stakeholders.
The CWM, approved by Cabinet through a letter dated 20th May 2025, seeks to ensure an equitable, transparent, and sustainable distribution of revenues collected from power sales.
The mechanism is designed to prevent liquidity crises in the energy value chain by guaranteeing regular disbursements to power producers, fuel suppliers, transmission companies, and regulators. Following the submission of the approved CWM model to ECG, PURC confirmed that the company adhered to the payment structure in its May allocations.
Of the total revenue collected, GHS 554.94 million was disbursed under Level A to Independent Power Producers (IPPs), the West African Gas Pipeline Company (WAPCo), and the Fuel Account.
Among the IPPs, Cenpower received the highest amount, with an allocation of GHS 105 million. WAPCo received the least, amounting to GHS 29.94 million. Other recipients in this category included Karpower, Asogli, Aksa, Early Power, Amandi, Cenit, and payments into the Fuel Account.
Statutory deductions for the month stood at GHS 95.47 million. ECG also made a transformer-related payment of GHS 150 million.
After these deductions, GHS 518.26 million remained for Level B distribution. PURC’s report confirmed payments to key players such as the Volta River Authority (VRA), which received GHS 60 million, and the Bui Power Authority, which was allocated GHS 88.43 million.
Ghana Grid Company (GRIDCo) received GHS 51.42 million, while Ghana Gas was paid GHS 43.76 million. ECG retained GHS 235.48 million for internal operations. Regulatory levies related to gas and power accounted for GHS 34.79 million, with other payments amounting to GHS 4.34 million made to entities such as BXC Solar, Meinergy, and Safisana.
The PURC stated that all payments made were in line with the approved Cash Waterfall allocation for May, signaling steady progress in restoring financial discipline across the electricity supply chain.
