Ranking Member on Parliament’s Economy and Development Committee, Kojo Oppong Nkrumah, has disclosed that electricity tariffs in Ghana will now be reviewed every three months as part of the government’s strategy to ensure cost recovery within the energy sector.
Speaking at a Minority press conference on Thursday, March 13, Oppong Nkrumah explained that the policy aims to stabilize the financial health of the power sector by reflecting changes in production costs, fuel prices, and exchange rate fluctuations.
“The adjustment of electricity tariffs every three months is meant to reflect changes in production costs, fuel prices, and exchange rate fluctuations”.
He expressed concern about the potential impact on consumers, particularly businesses and households already grappling with the high cost of living.
“While the government argues that this is necessary for sustainability, we must also consider how it affects ordinary Ghanaians. Frequent adjustments could place an additional burden on citizens”.
Oppong Nkrumah criticized the government for failing to implement adequate cushioning measures to mitigate the effects of these tariff hikes.
He emphasized that without a well-thought-out approach, the policy could lead to increased hardship and a decline in business competitiveness.
He has called on the government to prioritize efficiency in the energy sector rather than relying on periodic tariff increases as a solution.
