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Minister of Finance Dr. Cassiel Ato Baah Forson has announced a dramatic improvement in the financial performance of the Electricity Company of Ghana (ECG), revealing that the company’s monthly revenue has surged by 90 percent, rising from GH¢900 million to GH¢1.7 billion.
Presenting the 2026 Budget Statement to Parliament on Thursday, November 13, 2025, Dr. Forson said the impressive increase is the result of stronger enforcement of the Cash Waterfall Mechanism and comprehensive reforms implemented in the energy sector since the current administration took office.
According to the Minister, government-led restructuring, accountability measures, and financial discipline have begun yielding meaningful results across state-owned enterprises, with ECG’s revenue jump serving as a clear indication of the reforms’ impact.
“For the first time in many years, the Electricity Company of Ghana’s revenues have risen by almost 90 percent per month from GH¢900 million to GH¢1.7 billion,” he told lawmakers.
Energy Sector Reforms Saving Millions
Dr. Forson revealed that the government has also renegotiated several power purchase agreements with independent power producers (IPPs), securing over US$250 million in savings and restructuring GH¢1.1 billion over a four-year period.
These renegotiations, he explained, form part of a broader strategy to address long-standing inefficiencies and financial imbalances within the energy sector.
He noted that the combined effect of improved revenue collection, reduced waste, and lower contractual obligations has helped stabilise the sector and enhance its capacity to deliver reliable power to homes and industries.
Enhanced Financial Discipline Driving Results
The Finance Minister stressed that the turnaround at ECG underscores the government’s commitment to restoring order, transparency, and efficiency across public institutions.
“The improvement in ECG’s revenue demonstrates that government reforms are yielding tangible results and that fiscal discipline, transparency, and accountability are beginning to pay off,” he said.
Committed to Building a Strong, Self-Sustaining Economy
Dr. Forson reaffirmed that the 2026 Budget places strong emphasis on consolidation of macroeconomic stability, job creation, and long-term transformation.
“We are building a Ghana that produces more than it consumes, a Ghana where jobs are decent, incomes are rising, and opportunities are shared by all,” he said, assuring Parliament that the budget’s policies will support growth across key sectors.
