The Task Force on Independent Power Producers (IPPs) has wrapped up its investigation, warning owners of potential consequences if they do not comply with demands to terminate current agreements voluntarily. According to sources, IPPs have been instructed to cease capacity charges payments and only bill for the power supplied to the government.
Failure to comply may result in a forensic audit of the IPPs. Earlier this month, government sources revealed that certain IPPs had been receiving exorbitant sums without actually producing electricity, resulting in significant economic damage. It was also brought to light that these IPPs had over-invoiced and charged excessively for wind power plants in comparison to neighboring countries.
This move aims to rectify the financial burden imposed by IPPs and bring transparency to the energy sector. The government is taking decisive steps to address these issues and safeguard the national economy from further harm caused by irregularities within the IPP sector.