October 1, 2019

Electricity prices up by 5.94%, water 2.22%

The Public Utilities Regulatory Commission (PURC) has announced an upward adjustment of electricity and water tariffs to take effective from October 1.

Electricity will see a 5.94 per cent increment while water will go up by 2.22 per cent.

The increment in the tariffs, the PURC said in a statement Monday, cut across board for all categories of customers.

It said the new tariffs were informed by the Automatic Adjustment Formula that tracks and incorporate movement in key determining factors to reflect the real cost of electricity and water quarterly.

These factors, it mentioned as the Ghana cedi-US dollar exchange rate, inflation, price of crude and natural, fuel mix, generation mix, demand forecast, power purchase cost and electricity cost.

“The Commission however wishes to reiterate its commitment to embark on effective tariff monitoring programme aimed at providing the end user with improved service,” the statement signed by the Executive Secreatay of PURC, Mrs Mami Dufie Ofori said.

11.17 increment in July

In June this year, the PURC announce approved a 11.17 per cent increment for electricity which took effect from July 1. It explained was for recovery of total electricity revenue requirement for the regulated electricity market.

“The key objective of the tariff review was to sustain the financial viability of utility service providers as well as ensuring delivery of quality service to consumers,” it explained in the statement at the time.

The decision to review the tariff was based on proposals received from stakeholders, including the utilities service providers in the electricity and water sectors, the PURC said, noting the new tariff followed extensive technical and financial analyses of the proposals.

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Source: 3news.com

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