The Public Utilities and Regulatory Commission (PURC) has announced that there will be an increase in electricity and water tariffs in the first quarter of 2023.
It was made known to the public via a statement released by the company on Monday, January 16, 2023.
According to a statement signed by the Executive Secretary, Dr. Ishmael Ackah, the end-user tariff for electricity has been raised by 29.96 percent, and the end-user tariff for water has been raised by 8.3 percent, following the completion of the PURC’s regulatory processes for quarterly adjustments.
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“The Commission therefore decided to increase the average end-user tariff for electricity by 29.96% across the board for all consumer groups. The average end-user tarrif for water has also been increased by 8.3%. The Commission however approved varying rates of adjustments including some reductions for selected industrial and commercial consumers as part of the ongoing restructuring of the existing water rate structure,” the press release explained.
The new rates take effect from February 1, 2023.
The PURC further stated that,
“The Quarterly Tariff Review Mechanism seeks to track and incorporate changes in key factors used in determining natural gas, electricity, and water tariffs. The objective is to maintain the real value of cost of supply of these utility services and ensure that utility companies do not under- or over-recover.
“Under-recovery has negative implications for the ability of the companies to supply service to consumers, and has the potential of causing outages of electricity (DUMSOR) and water supply. Over-recovery unnecessarily overburdens consumers of electricity and water. The Quarterly Tariff Review Mechanism is meant to ensure that none of these happens.”
“The PURC is grateful to all stakeholders for their support as it continues to implement quarterly tariff reviews in accordance with its Rate Setting Guidelines for Quarterly Review of Natural Gas, Electricity and Water tariffs. In doing so, the Commission will continue to equitably balance the interests of the utility service and consumers and hold service providers to strict adherence to regulatory standards and benchmarks,” Purch added.
Check out the new rates for Electricity and Water Tarrifs in the picture below
Click Here To Download New Tariffs in PDF
