The Public Utilities Regulatory Commission (PURC) has declared a reduction in electricity tariffs and an increase in water tariffs, effective from December 1, 2023, to February 29, 2024. This move aligns with the Commission’s Quarterly Tariff Review Mechanism, incorporating factors such as the US$/Ghana Cedi exchange rate, domestic inflation, electricity generation mix, and fuel costs, particularly natural gas.
Electricity tariffs will experience a decrease of 1.52%, reflecting improvements in the exchange rate, lower inflation rates, a favorable electricity generation mix, and reduced natural gas costs. Conversely, water tariffs will see an upward adjustment of 0.34%, possibly influenced by increased production or distribution expenses in the water sector.
The PURC emphasizes the routine nature of these adjustments, conducted quarterly to sustain the real value of tariffs and ensure the financial viability of utility service providers. The Commission takes into account industry competitiveness and the overall living conditions of Ghanaians.
Acknowledging stakeholders’ support, the Commission expresses gratitude and reiterates its commitment to adhering strictly to regulatory standards and benchmarks. Additionally, the PURC remains dedicated to monitoring utility service providers to guarantee quality service delivery and value for money.