The Public Utilities Regulatory Commission (PURC) of Ghana has announced an increment in water and electricity tariffs starting October 1, 2024.
The new electricity tariffs will increase by 3.02%, and water tariffs will rise by 1.86%. This adjustment is part of the Commission’s routine quarterly review process, which aims to align tariffs with changes in key economic indicators such as the US Dollar/Ghana Cedi exchange rate, inflation, and natural gas costs.
The PURC, in a statement released on Saturday, September 28, 2024, attributed the tariff rise to several factors, including a 4.96% depreciation of the cedi against the dollar between the second and third quarters of 2024 and changes in inflation and gas prices.
These factors have led to a revenue shortfall of GH₵173.98 million in the electricity sector and GH₵12.01 million in the water sector.
It highlighted that the 3.02% increase in electricity tariffs and the 1.86% rise in water tariffs will apply to all customer categories for the third quarter of 2024.
“Following the quarterly tariff review, the Commission wishes to inform the public that there will be a 3.02% increment in electricity tariffs and a 1.86% increment in water tariffs for the third quarter of 2024 for all categories of customers,” part of the statement read.
The PURC stressed the importance of these increments in upholding the financial stability of utility providers such as the Electricity Company of Ghana (ECG), Ghana Water Limited (GWL), and Northern Electricity Distribution Company (NEDCo) while safeguarding consumers.
The Commission emphasised that regulated utilities are required to meet a revenue collection target of 98%, which is vital for the sustainability of the energy and water sector.
The Commission guaranteed consumers that it will continue to supervise the operations of utility companies to ensure that they deliver value for money and improve service quality.
