The government saved $300 million last year as credit accruing to energy sector utilities.
The credit accrued from arrangements the government put in place to share tariff revenues among players in the electricity value chain weekly to improve liquidity in the sector as part of the Energy Sector Recovery Programme (ESRP).
The Natural Gas Clearinghouse (NGC), established under the ESRP, ensures a weekly sharing of tariff revenues among players in the electricity value chain, including natural gas suppliers, transmitters, offtakers and distributors, made up of public and private sector players.
"In 2021 alone, we reconciled over $300 million, which will go back to the government as credit," the Lead Accountant of the NGC, Leonard Akuffo-Kwapong, said at a workshop on energy sector efficiency in Ada last Friday.
Mr Akuffo-Kwapong said the NGC arrangement also ensured the equitable and smooth distribution of gas sector revenues to all sector players.
He added that through the intervention, the ESRP had been able to reduce the legacy debt significantly without any extra payments by the government.
"What we did was simply to track payments made by the government.