HomeBusinessPURC announces an 18.36% hike in electricity tariffs

PURC announces an 18.36% hike in electricity tariffs

The Public Regulatory Utilities Commission (PURC) has increased tariffs for electricity and natural gas by 18.36% across the board for all consumer groups.

PURC in a statement explained that the decision was taken to balance the prevention of extended power outages and their adverse implications on jobs and livelihoods while minimizing the impact of rate increases on consumers.

The Quarterly Tariff Review Mechanism seeks to track and incorporate changes in key factors used in determining natural gas and electricity tariffs.

The decision was taken after a review for the second quarter of 2023.

According to PURC, forex related debts owed to power producers are reported to have increased by some GHC1.2 billion as a result of the non-application of the proposed 44% increase in tariffs in the last adjustment window. It will be recalled that though the utility providers requested a 44% increase in order to clear outstanding debts, the PURC allowed only a 29% increase.

The outstanding 15% is said to have accumulated an extra debt around GHC1.2 billion since then.

Major Independent Power producers are reported to be threatening to switch off their plants if the government does not pay up the arears.

READ THEIR STATEMENT BELOW

RELATED ARTICLES
- Advertisment -
Google search engine

Most Popular

Recent Comments

[radio_player id="225"]