Costs for electricity will be reviewed downward by the Public Utilities Regulatory Commission (PURC) and will take effect on December 1, 2023, and end on February 29, 2024.
The adjustment aligns with the Commission’s Quarterly Tariff Review Mechanism by using key factors like the US dollar to Ghana cedi exchange rate, the rate of domestic inflation, the composition of electricity generation, and the cost of fuel, primarily natural gas.
However, water rates saw an adjustment increase, while electricity tariffs saw a 1.52% decrease.
Water rates have gone up by 0.34% over the same time period, according to the same key indicators.
As per the Public Utility Regulatory Commission (PURC), modifications are made to the current water and electricity rates every three months to ensure that the rates reflect their true worth. This helps the utility companies stay financially stable and continue to provide their services to consumers.
“The Commission also took into account the general living conditions of Ghanaians and the competitiveness of industries.”
The statement went on, “The Commission appreciates the support of all stakeholders in its ongoing implementation of Quarterly Tariff Reviews in accordance with its Rate Setting Guidelines to address changes in operational conditions and to strictly enforce adherence to its regulatory standards and benchmarks by continuously monitoring the Utility Service Providers’ operations to ensure value for money and quality of service delivery.”
See below the results from analyses of the above four factors and their impact on the said tariffs to be paid by consumers for the period under review;
