The Public Utilities Regulatory Commission (PURC) has announced a 3.02% increase in electricity tariffs and a 1.06% rise in water tariffs, set to take effect on October 1, 2024.
In a statement released on Saturday, September 28, the Commission explained that the adjustments stem from several economic factors, including inflation, exchange rate fluctuations, and the rising cost of gas.
This tariff adjustment applies to all categories of consumers in Ghana.
The PURC emphasized that the decision was made after a comprehensive review of the country’s economic challenges, particularly the prevailing living conditions.
“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 statement read.
The Commission also assured that it had taken into account the sustainability of industries and the economic competitiveness of the country.
Despite the hikes, the Commission noted that they have been measured to mitigate any further strain on the Ghanaian populace.
“We are aware of the economic difficulties and general living standards in the country,” the statement continued, underscoring the delicate balance between supporting the utility companies and ensuring minimal impact on consumers.
The tariff adjustments are part of the PURC’s quarterly review system.
