The Public Utilities Regulatory Commission (PURC) has declared a reduction in electricity tariffs effective December 1, 2023, to February 29, 2024, following its Quarterly Tariff Review Mechanism.
The adjustment reflects a 1.52% decrease in electricity tariffs.
The decision to revise tariffs is based on key 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, primarily natural gas.
In contrast, water tariffs will experience a modest increase during the same period, with a 0.34% upward adjustment.
The PURC clarified that these adjustments are part of its quarterly review strategy to maintain the real value of tariffs, ensuring the financial viability of utility service providers.
The goal is to enable these providers to deliver quality services while considering the competitiveness of industries and the general living conditions of Ghanaians.
The PURC expressed gratitude to stakeholders for their support, emphasizing its commitment to implementing Quarterly Tariff Reviews in accordance with Rate Setting Guidelines.
The commission continuously monitors utility service providers to ensure adherence to regulatory standards and benchmarks, ensuring value for money and quality service delivery.
See below the results from analyses of the above four factors and their impact on the said tariffs to be paid by consumers for the period under review;