The Public Utilities Regulatory Commission (PURC) has announced an increase in utility tariffs for the third quarter of 2024, with electricity rates rising by 3.02% and water tariffs by 1.06%, effective from October 1, 2024.
In a statement issued on Saturday, September 28, 2024, the PURC highlighted that the tariff adjustments were driven by key factors, including inflation, fluctuations in exchange rates, and changes in gas prices.
The Commission assured that Ghana’s current economic difficulties and their impact on citizens’ living conditions were taken into account during the decision-making process.
“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.
“The Commission’s decision is based on changes in some key parameters, such as inflation rate, exchange rate, and the Weighted Average Cost of Gas (WACOG) over the projected Third Quarter. The Commission also considered several other underlying factors, including the current economic conditions and general living standards of Ghanaians, and the competitiveness and sustainability of industries,” the statement read.
The PURC further explained that the decision was based on key economic indicators such as inflation, the exchange rate, and the Weighted Average Cost of Gas (WACOG) for the projected third quarter, as well as broader economic factors impacting the country’s industries and citizens’ livelihoods.
These tariff adjustments will affect all consumers nationwide.