Electricity prices increase by 29.96%, effective 1 February

Electricity prices increase by 29.96%, effective 1 February

The Public Utility Regulatory Commission (PURC) has announced an upward adjustment of 29.96% in electricity tariffs, and water by 8.3%, to take effect 1 February 2023.

A statement issued on Monday, January 16, and signed by Dr Ishmael Ackah, the Commission’s Executive Secretary, said the PURC has “decided to increase the average end-user tariff for electricity by 29.96% across board for all consumer groups.”

The increase, it said, has been necessitated by the “combined effect of the Cedi/Dollar exchange rate, inflation and WACOG [Weighted Average Cost of Gas]” which has resulted in companies “significantly under-recovering and require an upward adjustment of their tariffs in order to keep the lights on and water flowing.”

The Commission, however, also approved varying rate adjustments including some reduction for selected industrial and commercial consumers as part of the ongoing restructuring of the existing water rate infrastructure.

According to statement, although the PURC did acknowledge the present challenging economic circumstances, it had to admit that the potential for outages would be catastrophic for Ghana and has to be avoided.

“The PURC, therefore, sought to balance prevention of extended power outages and its deleterious implications on jobs and livelihoods with minimising the impact of rate increases on consumers,” it said.

 

Source: Energy Ghana

 

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