ACEP commends government's decision to restructure VRA debts

The Africa Centre for Energy Policy, ACEP, has commended government for its decision to use revenue accruing from the Energy Sector Levy to restructure the debts of the VRA. 

The commendation comes on the heels of the Supplementary Budget presentation to parliament made by the Finance Minister, Seth Terkper. 

ACEP also describes as a timely intervention, government's plan to scrutinise the terms of the Power Purchase Agreement, PPA, as part of efforts to reduce its financial risk on the country's purse. 

It said the move will check the situation where power agreements signed under emergency terms such as AKSA and the second barge from Karpower fail to perform under their contracts. 

These were contained in a statement issued by ACEP. 

GBC