Chairman of the Public Accounts Committee (PAC), James Klutse Avedzi, asserted that electricity theft contributes to 30% of the revenue losses experienced by the Electricity Company of Ghana (ECG).

He suggested that addressing this issue of electricity theft would enable the power distribution company to operate at a profit.

During an appearance on TV3's Hot Issues on Sunday, May 5, 2024, Mr. Avedzi made these remarks, "If ECG is able to focus on rectifying the theft of power, which accounts for 30 percent of revenue losses, they can return to profit-making."

His statement follows the Auditor-General's report, which underscored the revenue losses incurred by ECG.

During his appearance before PAC in February this year, ECG's Managing Director, Samuel Dubik Mahama, highlighted the detrimental impact of the local currency's depreciation on their operations.

Mahama elucidated that since the power distribution company primarily purchases electricity in dollars and sells in Cedi, the depreciation of the Cedi against major trading currencies, particularly the dollar, was adversely affecting their business.

"The forex losses alone for the year are something that we have to look at in terms of our business. Forex losses are what culminate in over 80 percent of the losses that you are seeing. ECG sells electricity, so we will do our best to sell enough to reduce our commercial losses to the best of our ability to see how we can close that gap," Mahama earlier stated.

In March of this year, ECG initiated a nationwide revenue mobilization campaign.

The head of ECG emphasized that this revenue mobilization effort was conducted in accordance with the provisions of Public Utilities Regulatory Commission’s LI 2413(2020).

This legislation granted ECG the authority to access all its installations at any given time.

In contrast, ECG's collection losses by September 2023 had surged to GH¢2,050,373,143.47.

Collection loss refers to revenue not received due to non-payment, overdue payments, or uncollectible debts from tenants or customers.

Regarding technical losses, the company reported a loss of GH¢1,279,369,021.42 compared to GH¢2,758,872,792.21 in 2022.