The Public Utilities Regulatory Commission (PURC) has announced that electricity and water tariffs will increase starting from July 1 to September 30, 2024. This adjustment comes as part of the Commission's regular review process to account for various economic factors.
In a statement dated May 31 and signed by Executive Secretary Dr. Ishmael Ackah, the PURC detailed the new tariff rates. Lifeline electricity consumers (0-30 kWh) will see a 3.45% increase, while all other residential consumers (31 kWh and above), as well as non-residential users, will experience a 5.84% rise. Industrial consumers will face a 4.92% increase in their electricity tariffs. Water tariffs will also go up by 5.16% across all customer classes.
“These reviews have been undertaken in line with the Commission’s Quarterly Tariff Review Mechanism, which tracks and incorporates movements in key uncontrollable factors, namely the exchange rate between the US$ and the Ghana Cedi, domestic inflation rate, the electricity generation mix, and the cost of fuel, mainly natural gas,” the PURC explained.
The Commission emphasized that these adjustments are necessary to maintain the financial viability of utility service providers and ensure they can continue delivering reliable services. The review process considered several economic pressures, including the depreciation of the cedi, inflation, fuel costs, and the electricity generation mix.
Moreover, the PURC highlighted that it took into account the general living conditions of Ghanaians and the competitiveness of local industries when making these decisions. This balanced approach aims to ensure that utility services remain sustainable while also being mindful of the economic impact on consumers.
As these new rates take effect, Ghanaians should prepare for the upcoming changes in their utility bills. The adjustments underscore the importance of ongoing infrastructure investment and economic management to support the nation’s utility services.
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