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The Public Utilities Regulatory Commission (PURC) of Ghana has announced an upward adjustment of water and electricity tariffs.
The new electricity and water tariffs will reflect an increase of 3.02% and 1.86% respectively, starting from October 1, 2024. This adjustment is part of the Commission’s regular quarterly review process, which aims to align tariffs with changes in key economic indicators such as the US Dollar/Ghana Cedi exchange rate, inflation, and natural gas costs.
In a statement released on Saturday, September 28, the PURC attributed the tariff increases to several factors, including a 4.96% depreciation of the cedi against the dollar between the second and third quarters of 2024, as well as changes in inflation and gas prices.
These factors have led to a revenue shortfall of GH₵173.98 million in the electricity sector and GH₵12.01 million in the water sector.
The statement noted that the 3.02% increase in electricity tariffs and the 1.86% rise in water tariffs will apply to all customer categories for the third quarter of 2024.
“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,” part of the statement read
The Commission emphasised that these increments are essential to maintain the financial stability of utility providers such as the Electricity Company of Ghana (ECG), Ghana Water Limited (GWL), and Northern Electricity Distribution Company (NEDCo), while also protecting consumers.
The PURC highlighted that regulated utilities are expected to achieve a revenue collection benchmark of 98%, which is crucial for the sustainability of the energy and water sectors.
The Commission assured consumers that it will continue to oversee the operations of utility companies to ensure value for money and enhance service quality.
NKONKONSA.com
