An audit by PricewaterhouseCoopers (PwC) has uncovered a GH¢5.3 billion discrepancy in the financial records of the Electricity Company of Ghana (ECG) for 2024.
The report found a significant gap between the revenue ECG reported under the Cash Waterfall Mechanism (CWM) and the figures recorded in its Cash Settlement Platform.
According to PwC, while ECG’s accounts showed revenue collections of GH¢15.8 billion, the company only declared GH¢10.4 billion to the regulator—effectively under-reporting GH¢5.3 billion.
The findings raise concerns about ECG’s financial transparency and its impact on Ghana’s struggling energy sector.
The industry has long faced liquidity challenges, mounting debts to Independent Power Producers, and inefficiencies in revenue collection.
Despite under-declaring its earnings, the PwC report revealed that ECG also failed to properly disburse payments to key industry players.
Out of the GH¢10.4 billion it officially reported, the company paid only GH¢6.5 billion, leaving GH¢3.9 billion unaccounted for.
The audit further highlighted inconsistencies between tariff revenue figures.
