An increase in electricity and water rates has been announced by the Public Utilities Regulatory Commission (PURC), and it will take effect on July 1 and last until September 30, 2024.
According to the Commission, electricity rates for lifeline customers (0–30 kWh) would rise by 3.45%; for all other residential customers who do not fall into the lifeline category bracket (31 kWh and above), as well as the non-residential category, rates will increase by 5.84%.
The PURC provided an explanation of the 4.92% rise in power prices for industrial users in a statement dated Friday, May 31, and signed by its Executive Secretary, Dr. Ishmael Ackah.
According to PURC, during the period under review, water tariffs will rise by 5.16% for all customer classes.
The Public Utilities Regulatory Commission would like to notify water and electricity customers that the current rates have been reviewed and will be in force from July 1, 2024, to September 30, 2024.
After taking into account all relevant variables, the Commission is pleased to declare that electricity rates for lifeline customers (0–30 kWh) will increase by 3.45%; for all other residential customers (31 kWh and above) and the non-residential category, rates will increase by 5.84%.
The cost of power will rise by 4.92% for the industrial category. For the period under review, water tariffs will rise by 5.16% for all customer classes, according to PURC.
The PURC ascribed the increase to a number of variables, including as the cedi, inflation, fuel prices, and the mix of energy producing sources.
These reviews have been conducted in accordance with the Commission’s Quarterly Tariff Review Mechanism, which monitors and takes into account changes in important uncontrollable factors, such as the rate of inflation in the country, the mix of electricity generation sources, the price of fuel, primarily natural gas, and the exchange rate between the US dollar and the Ghana cedi.
“The goal of these reviews is to preserve the actual value of the tariffs, which will keep utility service providers solvent and able to continue providing their services to customers.”
Additionally, the Commission said that it considered Ghanaians’ overall standard of life.
PURC said, “The competitiveness of industries and the general living conditions of Ghanaians were also considered by the Commission in undertaking this review.”
