The new tariffs, which is for three months, from December 1, 2023 to February 29, 2024, will see that of electricity reduced by 1.52 per cent across the board for all customers, while water increases by 0.34 per cent.

The adjustments are being carried out in line with the commission’s quarterly tariff review mechanism, which tracks and incorporates movement in key uncontrollable factors.

The factors are the exchange rate between the US dollar and the Ghana cedi, domestic inflation rate, the electricity generation mix, and the cost of fuel, mainly natural gas.

Quarterly adjustment 

A statement dated Thursday, 23, 2023,  signed and issued by the Executive Secretary of the PURC, Dr Ishmael Ackah, stated that the adjustments to the existing electricity and water tariffs was undertaken on a quarterly basis to maintain the real value of the tariffs, thereby keeping the utility service providers financially viable to enable them deliver on their services to consumers. 

He said in addition, the commission considered the competitiveness of industries and the general living conditions of the Ghanaian.

“After robust analysis, the commission wishes to announce a reduction of 1.52 per cent (-1.52%) in the electricity tariff.

“Water tariffs have increased by 0.34 per cent for the fourth quarter of 2023,” he said. 

He explained that electricity tariffs across board have been reduced by 1.52 per cent for the fourth quarter of 2023.

The results from analyses of the four factors and their impact on electricity tariffs to be paid by consumers for the period under review.