Just In: PURC announces an 18.36% hike in electricity tariffs
For all consumer categories, the Public Regulatory Utilities Commission (PURC) has raised electricity and natural gas rates by a total of 18.36%.
In a statement, PURC said that the decision was made to strike a compromise between mitigating the effects of rate hikes on consumers and preventing prolonged power outages and their detrimental effects on jobs and lives.
The Quarterly Tariff Review Mechanism aims to monitor and take into account changes to important variables that are used to calculate natural gas and electricity pricing.
Following a review for the second quarter of 2023, the decision was made.
According to PURC, the failure to apply the projected 44% rise in tariffs during the previous adjustment window has led to an increase in forex-related obligations owed to power producers of about GHC1.2 billion. Recall that the PURC only permitted a 29% increase, despite the utility suppliers’ request for a 44% increase to pay off outstanding bills.
Since then, the remaining 15% is alleged to have racked up an additional debt of almost GHC 1.2 billion.
If the government does not settle the arrears, major independent power producers reportedly threaten to shut down their facilities.
