The Public Utilities Regulatory Commission (PURC) has announced a 3.02% increase in electricity tariffs and a 1.06% rise in water tariffs for the third quarter of 2024, effective from Tuesday October 1, 2024.
The tariff increase will affect all categories of consumers, including electricity, water and natural Gas.
“Following the quarterly tariff review, the Commission wishes to inform the public that there will be a 3.02% increment in electricity tariffs and a 1.86% increment in water tariffs for the Third Quarter of 2024 for all categories of customers.
According to the statement, “the Commission’s decision is based on changes in some key parameters, such as inflation rate, exchange rate, and the Weighted Average Cost of Gas (WACOG) over the projected Third Quarter.”
The Commission also considered several other underlying factors, including the current economic conditions and general living standards of Ghanaians, and the competitiveness and sustainability of industries.
In a statement released on Saturday, September 28, the PURC explained that the adjustment was necessary due to factors such as inflation, exchange rate fluctuations, and gas prices.
Highlighting the Commission’s decision to increase tariffs, the statement said that, the Commission after reviewing and analysing its findings from
data on the macroeconomic and market-driven, approved a 3.02% increment in electricity tariffs, largely driven by exchange rate effect on electricity generation cost, and a 1.86% increment in water tariffs across board.
“In approving this tariff, the Commission was mindful of the following key objectives:
(i) cost recovery for the provision of utility services, and
(ii) a reduction in the fiscal burden of government for subsidizing the regulated electricity and
natural gas sectors.”
Read full statement below:
