my Radio G-Live Electricity and water tariffs will increase starting today.
Written by GliveRadio Accra on July 1, 2024
The cost of electricity has risen by 5.8%, and water prices have increased by 5.1% this morning due to a tariff adjustment approved by the Public Utilities Regulatory Commission for residential use.
The PURC cited several factors for the increase, including depreciation of the cedi, inflation, fuel costs, and the electricity generation mix.
In its statement on May 31, the PURC indicated that tariffs for lifeline consumers will rise by 3.45%.
“The PURC announced a 3.45% increase in electricity tariffs for lifeline consumers (0-30 kWh), a 5.84% increase for all other residential consumers not in the lifeline category (31 kWh and above), and a similar increase for non-residential consumers.
Meanwhile, industrial consumers will face a 4.92% increase in electricity tariffs.”
The statement, signed by PURC’s Executive Secretary Ishmael Ackah, clarified that the tariff adjustments were conducted in accordance with the Commission’s Quarterly Tariff Review Mechanism. This mechanism monitors and reflects changes in crucial uncontrollable factors such as the exchange rate between the US dollar and the Ghana Cedi, domestic inflation rate, the electricity generation mix, and the cost of fuel, particularly natural gas.
The Commission says it also considered the competitiveness of industries and the general living conditions of the Ghanaians in arriving at this review.
