The Public Utilities Regulatory Commission (PURC) in its 2023 fourth-quarter tariff review announced adjustments to tariffs of two essential utilities — a 0.34% increase in water tariffs and a 1.52% decrease in electricity tariffs, according to myjoyonline.com. The adjustments are to take effect on Friday 1st December 2023 and continue till Thursday 29th February 2024.
Key factors that accounted for the price adjustments included the exchange rate between the US Dollar and the Ghana Cedi, the domestic inflation rate, the electricity generation mix, and the cost of fuel (mainly natural gas).
Others were the competitiveness of industries, the general living conditions of Ghanaians, and the need to maintain the real value of the tariffs to enable utility service providers deliver their services to consumers.
READ MORE:
Debut disappointment: Ghana captain Andre Ayew sees red moments after Le Havre entry
Lady Yaa crowned as Miss Malaika 2023, shines bright in victory
Accra’s Bloom Bar to open branch in USA just in time for Christmas
As reported by citinewsroom.com, the Director of Research and Corporate Affairs at PURC, Dr Eric Obutey, indicated that the production of more gas and hydro also pushed the electricity tariff down.
“The downward review was necessitated by four factors: the generation mix, where we now run more hydro compared to thermal. The hydro now is about 31.9%, and thermal is about 68%. We have a downward trend in inflation, which has dipped by about 3.6%, and we also have fuel prices, which have gone down by about 5.9%. So if you put all together, these necessitated the downward trend in electricity prices,” he explained.
