Ghanaians should prepare for higher electricity costs starting next month. The Public Utility Regulatory Commission (PURC) announced this change in its second quarterly review for 2024.
The commission stated that residential electricity consumers will face a 5.84% increase in rates. According to a statement released on May 31, lifeline consumers, those using 0-30kWh, will experience a 3.45% rise in tariffs. All other residential consumers, those using 31kWh and above, along with the non-residential category, will see their rates go up by 5.84%.
Additionally, the industrial category will encounter a 4.92% increase in electricity tariffs. For water, all customer classes will face a 5.16% hike during the review period from July 1, 2024, to September 30, 2024.
The statement, signed by PURC’s Executive Secretary Ishmael Ackah, explained that these reviews follow the Commission’s Quarterly Tariff Review Mechanism. This mechanism considers key uncontrollable factors such as the exchange rate between the US dollar and the Ghana Cedi, domestic inflation rate, electricity generation mix, and fuel costs, primarily natural gas.
The commission also took into account the competitiveness of industries and the overall living conditions of Ghanaians in making these adjustments.
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