ECG underreported 2024 revenue —- In a country grappling with chronic power sector debt, the second part of a forensic audit by PricewaterhouseCoopers (PwC) has uncovered a fresh dilemma: the Electricity Company of Ghana (ECG) under-declared GHS 5.3 billion in revenue in 2024 alone.
According to the PwC report, ECG continued to under-declare revenues to the regulator.
In 2024, its under-declared revenues by GH¢5.3 billion. Its accounts showed it collected GH¢15.8 billion but it told the regulator it collected GH¢10.4 billion.
📢 GET A DETAILED ARTICLES + JOBS
Join ASJ's WhatsApp Channel and never miss a post or opportunity.
Even though ECG significantly under-declared revenues, it still didn’t pay value chain players properly based on what it declared and the cash waterfall mechanism, the report noted.
It added that out of the GH¢10.4 billion declared, it paid GH¢6.5 billion leaving a variance of GH¢3.9 billion.
The report further reveals that a vendor contracted by ECG to collect revenues on its behalf received a staggering GH¢402 million in commissions—nearly as much as the Volta River Authority (VRA), which was paid GH¢412 million, and significantly more than Bui Power, which received GH¢323 million.
Notably, this vendor was paid before the entities responsible for power generation.
According to the report, despite the International Monetary Fund (IMF) conditions mandating a single collection account, ECG maintained 99 bank accounts across 19 banks in 2024.
Last Updated on April 12, 2026 by Samuel Kwame Boadu
Disclaimer: Some content on Accra Street Journal may be aggregated, summarized, or edited from third-party sources for informational purposes. Images and media are used under fair use or royalty-free licenses. Accra Street Journal is a subsidiary of SamBoad Publishing Hub under SamBoad Business Group Ltd, registered in Ghana since 2014.
For concerns or inquiries, please visit our Privacy Policy or Contact Page.
Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.
