The Public Utilities Regulatory Commission (PURC) has announced tariff increases of 3.02% for electricity and 1.86% for water, effective October 1, 2024.
These adjustments come after the commission’s quarterly review, which considered factors such as the exchange rate, inflation, and the cost of natural gas.
Between the second and third quarters, the Ghana Cedi depreciated by 4.96% against the US Dollar, while inflation dropped slightly from 24.38% to 22.27%.
The Weighted Average Cost of Gas (WACOG) also declined. These economic shifts resulted in a revenue shortfall of GHS 173.98 million for the electricity sector and GHS 12.01 million for the water sector, necessitating the tariff increases.
The PURC stated that the decision is aimed at maintaining the financial health of utility providers such as the Electricity Company of Ghana (ECG) and Ghana Water Limited (GWL), while also balancing consumer interests.
In a statement, the commission emphasized its commitment to holding utility providers accountable to regulatory standards, ensuring they deliver efficient services while protecting consumer rights.
“The Commission remains committed to ensuring utility service providers strictly adhere to regulatory standards and benchmarks. Continuous monitoring of their operations will be undertaken to guarantee value for money, operational efficiency, and improved service quality.”
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Story by: Akpalu Edmond Deladem | univers.ug.edu.gh
