Beginning October 1, 2024, Electricity tariffs will go up by 3.02% while water tariffs will see a 1.86% increment.

This was announced by the Public Utilities Regulatory Commission (PURC) in a statement, on the 2024 third quarter tariff review decision, released on September 28, 2024.

According to the statement, the adjustment was influenced by various factors which include gas prices, exchange rates, as well as domestic inflation rate.

“By incorporating changes in the values of these indicators in the quarterly tariff reviews, the Commission ensures that the real value of the tariffs are maintained, to provide for the financial viability and ability of utility service providers to deliver on their mandate. This is necessary to keep the light on and the water flowing.”

The commission further noted that all categories of consumers will be affected by the new tariffs.

“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.”

PURC further urged all regulating bodies such as the ECG, GWCL and NEDCo to ensure the benchmark of 98% revenue collection is adhered to.

“The Commission expects the regulated utilities, including the Electricity Company of Ghana (ECG), Ghana Water Limited (GWL) and Northern Electricity Distribution Company (NEDCo) to adhere strictly to the PURC regulatory benchmark of 98% for revenue collection; and consequently, pay what is due all stakeholders in the value chain. This is very necessary for the sustainability of both the energy and water sectors.

“This is also on account of the fact that the approved increment in both electricity and water tariffs is expected to translate into increased revenue requirements and collections for ECG, NEDCo, and GWL, with the following projected monthly revenues for the third quarter; GH¢2,024.5 million for ECG, GH¢243.20 million for NEDCo, and GH¢227.40 million for GWL. It is therefore the expectation of the Commission that this increased revenue requirement will be commensurate with the expected collections in accordance with the 98% revenue collection benchmark.”

See the full statement below



ADG