Following the announcement by the Public Utilities Regulatory Commission (PURC) that there would be an increase in electricity and water tariffs for the third quarter of 2024, effective October 1, 2024, the Greater Accra Regional Chairman of the Association of Ghana Industries (AGI), Tsonam Akpeloo, has lamented the impact this would have on the business community.

According to him, high levels of utility tariffs have pushed some businesses out of operation.

In his view, steps need to be taken to either reduce the utility tariffs or maintain them at previous rates to allow businesses to heave a sigh of relief.

Mr. Akpeloo stressed that the 3.02% hike in electricity and the 1.86% rise in water tariffs will cause more harm than good to the industrial development of businesses.

“We’re asking the regulatory authority to be concerned about the plight of industries and ensure that at least in the next quarter, they either take steps to reduce it or maintain it at the previous rate because this increment is not going to be beneficial for industrial development,” he said.

“As I mentioned, it would be a cost that will have to be absorbed by the producer, because at this rate, we cannot pass it on to the consumer. A lot of companies are really going out of business because of these high levels of utility tariffs,” the Greater Accra Regional Chairman of AGI stated.

On Saturday, September 28, 2024, the Public Utilities Regulatory Commission announced an increase in electricity and water tariffs for the third quarter of 2024, with a 3.02% hike in electricity and a 1.86% rise in water, effective Tuesday, October 1, 2024.

PURC explained that the adjustment was influenced by factors such as inflation, exchange rate fluctuations, and changes in gas prices.

The new tariff adjustments will apply to all categories of consumers across the country.

SA/OGB

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