The Public Utilities Regulatory Commission has announced that effective February 1, 2023, electricity and water tariffs by 29.96% and 8.3% respectively.
PURC noted that this has become necessary due to the current inflation rate and also the depreciation of the cedi.
According to the commission, four key factors were considered in the determination of the rate for the first quarter of 2023.
“These were the GhanaCedi/US dollar exchange rate, inflation, generation mix, and the weighted average cost of natural gas,” a release on January 16 detailed.
It however added that since the increment in the last quarter of 2022, the various indicators have changed significantly therefore utility companies are “under-recovering and require an upward adjustment of their tariffs in order to keep the lights on and water flowing.”