The Public Utilities Regulatory Commission (PURC) has announced a 1.52% reduction in electricity tariffs and an upward adjustment of water tariffs by 0.34%.
The tariff adjustment is effective December 1, 2023, to February 29, 2024.
This is contained in a press release dated November 23, 2023 signed by the Executive Secretary, Dr. Ishmael Ackah, following the Commission’s 2023 fourth quarter tariff review.
The water tariff for residential customers increased from GHS/m³ 4.72 to 4.74 while non-residential customers moved from GHS/m³ 14.13 to 14.19.
For water sachet producers, their tariff has been hiked from GHS/m³ 22.26 to 22.34; Industrial consumers will have their tariff moved from GHS/m³ 25.29 to 25.38
The PURC explained that “These adjustments are being carried out in line with the Commission’s Quarterly Tariff Review Mechanism, which tracks and incorporates movement in key uncontrollable factors, namely the exchange rate between the US$ and the Ghana Cedi, domestic inflation rate, the electricity generation mix, and the cost of fuel, mainly natural gas.”
The utilities regulatory body further clarified that, “Adjustments to the existing electricity and water tariffs is undertaken on a quarterly basis to maintain the real value of the tariffs, thereby keeping the utility service providers financially viable to enable them deliver on their services to consumers. In addition, the Commission considered the competitiveness of industries and the general living conditions of the Ghanaian.”
“The PURC is continually grateful to all stakeholders for their support as it continues to implement quarterly tariff reviews in accordance with its Rate Setting Guidelines for Quarterly Review of Natural Gas, Electricity, and Water Tariffs. The Commission wishes to assure its stakeholders that it will continue to monitor the operations of the service providers to ensure quality delivery of service while balancing the interests of Consumers and Utility Service Providers,” PURC’s statement added.
