The Public Utilities Regulatory Commission (PURC) has approved an 11.17% tariff increase for electricity from July 1.
PURC explained in a press release on Friday that the increase is for the recovery of total electricity revenue requirement for the regulated electricity market.
“In taking the above decisions, the Commission received and considered tariff proposals from stakeholders including the following utility service providers in the electricity and water sectors: Volta River Authority (VRA), Ghana Grid Company Limited (GRIDCo), Electricity Company of Ghana (ECG), Power Distribution Services (PDS) Ghana Limited, Northern Electricity Distribution Company (NEDCo) and Enclave Power Company Limited (EPC).
“In line with the Commission’s regulatory oversight mandate, extensive technical and financial analyses of the proposals were undertaken. The key objective of the tariff review was to sustain the financial viability of utility service providers as well as ensuring delivery of quality service to consumers,” the PURC said.
Meanwhile the public affairs Manager of Public Utility Regulatory Commission (PURC) Mr. Bawa Munkaila said ,the commission take into consideration ,the needed requirement of the various utility companies provided and there are macro-economic indicators that drivers where the tariffs should go and also consider the operation of utility provider especially with their losses in operation.
He added that, this particular tariff increase should have been announced earlier and any major change in the industry can trigger an increase in the tariff.
