Electricity and Water Tariffs Increase Amid Cedi Depreciation

The Public Utilities Regulatory Commission (PURC) has announced an increase in electricity and water tariffs, effective from October 1, 2024.

Electricity will see a 3.02% hike, while water tariffs will go up by 1.86%.

This adjustment is part of the quarterly review to align tariffs with economic changes, such as inflation, the depreciation of the cedi against the US dollar, and the rising cost of natural gas.

According to a PURC statement issued on September 28, the cedi’s 4.96% depreciation between the second and third quarters of 2024, coupled with inflationary pressures and gas price fluctuations, led to revenue shortfalls in both the electricity (GH₵173.98 million) and water (GH₵12.01 million) sectors.

The Commission emphasized the necessity of these increases to maintain the financial health of utility companies, including the Electricity Company of Ghana (ECG) and Ghana Water Limited (GWL), while safeguarding consumer interests.

PURC also reaffirmed its commitment to closely monitoring utility performance to ensure improved service and value for money.

Below is the full statement…