According to a report by Ghana's "Joy Online" on January 13, despite previous claims by the Ghanaian government that substantial payments have been made to settle arrears in the energy sector, a Joy Online investigation reveals that the government still owes independent power producers (IPPs) over $700 million in historical debts. The government had earlier announced that it had cleared approximately $1.47 billion in energy sector debts by 2025, including $393 million paid to independent power producers (IPPs).

PriceSeek Analysis: Poly Aluminum Chloride (PAC), Bull-Bear Score: -1
The article indicates that the Ghanaian government owes independent power producers over $700 million in debts. Despite partial payments, financial constraints in the energy sector may hinder the operation of power plants. As a key chemical in power plant water treatment, the demand for poly aluminum chloride faces downside risks, exerting a generally bearish impact on spot prices, which are expected to come under pressure.

Polyacrylamide (PAM), Bull-Bear Score: -1
Ghana's energy debt issue may lead to reduced investment by power producers and decreased procurement of water treatment systems. As a related chemical, the demand for polyacrylamide is likely to weaken, putting downward pressure on spot prices. This event indirectly but significantly affects market sentiment, with the score reflecting a generally bearish trend.