The Public Utilities Regulatory Commission (PURC) has confirmed a 3.02% hike in electricity tariffs and a 1.06% rise in water tariffs for the third quarter of 2024, set to take effect on October 1. In a statement released on September 28, the PURC cited inflation, exchange rate fluctuations, and rising gas prices as key factors necessitating the adjustments.
The commission emphasized that it carefully considered Ghana’s current economic challenges and living conditions in making this decision, which will impact all categories of consumers.
The Statement read “The Hydro-Thermal generation mix considered for the projected period remained unchanged with hydro sources contributing 34.81% to generation, while thermal sources contributed 65.19% to the generation mix. There was however a 4.96% depreciation of the Ghana Cedi against the US Dollar between the second and third tariff quarters”.
“Projected inflation rate for the period declined marginally from 24.38% to 22.27%. Similarly, the Weighted Average Cost of Gas (WACOG) declined from US$/MMBtu 8.0422 to US$/MMBtu 7.8368 for the third quarter”.
“The overall changes in these factors under consideration amounted to a total under-recovery of GHS 173.98 million, which translates to a 3.02% increase in electricity tariffs. In the case of water, a revenue gap of GHS 12.01 million was recorded which translates to a 1.86% increase in water tariffs”.
SOURCE: https://dew360.net
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