Electricity, Water Tariffs to rise by 3.02%, 1.86% from October 1

Accra, Ghana - The Public Utilities Regulatory Commission (PURC) has announced a 3.02% increase in electricity tariffs and a 1.86% rise in water tariffs, effective October 1, 2024.

This adjustment aims to address factors like inflation, exchange rate fluctuations, and gas prices, while considering Ghana's economic challenges and living conditions.

The tariff hikes will impact all consumer categories, affecting bills for electricity and water services provided by the Electricity Company of Ghana (ECG), Ghana Water Limited (GWL), and Northern Electricity Distribution Company (NEDCo).

PURC emphasized in a statement that these increments are crucial for ensuring the financial stability of utility providers while balancing consumer protection.

The commission expects regulated utilities to meet a 98% revenue collection benchmark, essential for sustaining the energy and water sectors.

“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.

“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,'' part of the statement read.

Find the full statement in the link below.

https://drive.google.com/file/d/12BsJecYZ6D7yLkPvjLo-OAPH-0RXhiJj/view?usp=sharing

Source: Lead News Online