Electricity tariff has gone up by 2.63%, the Public Utilities and Regulatory Commission (PURC) has announced.
Water tariff has also shot up by 1.06%.
The new prices will take effect from April 1, 2015.
“In calculating the tariffs for the second quarter Automatic Adjustment Formula, the Commission arrived at an actual increase of 31.73 cumulative for electricity and 21.30% for water. However, the Commission using the Decision Variable decided to pass on a minimal tariff increase of 2.63% for electricity and 1.06% for water,” the statement said.
It added: “This action has been necessitated by the current electricity situation where consumers are spending extra income on the acquisition of other alternative sources of electricity.
“This increase is meant to preserve the current load share situation by assisting the Electricity Distribution Companies to maintain its network under the current circumstances to avoid an immediate collapse of the distribution network.”
Factors considered in computing the Automatic Adjustment Formula”
Ghana Cedis Exchange Rate
Inflation
Fuel Mix
Generation Mix(Hydro and Thermal)
Power Purchase Cost
Demand Forecast
Credit: starrfmonline