The Public Utilities Regulatory Commission (PURC) has announced in a press release its move to reduce electricity tariffs for residential consumers.
The Commission, however, indicated that there will be no change in the prices currently paid by lifeline consumers (0-30 kWh), as well as residential consumers within the consumption bracket of 0-300 kWh.
“These reviews have been undertaken in line with the Commission’s quarterly tariff review mechanism. It tracks and incorporates movements on key uncontrollable factors, namely the exchange rate between the US dollar and the Ghana Cedi, domestic inflation rate, electricity generation mix, and cost of fuel, mainly natural gas,” the Commission said in a statement on Tuesday.
The reduction will apply to residential consumers who fall within the 301+kWh usage bracket.
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“The Commission has reduced the non-residential class to two bands. Customers in the 0-300kWh consumption will experience no change while, customers who consume over 300kWh will experience a tariff reduction of 4.98%,” part of the statement added.
To reward the productive use of electricity, the utility commission has also reduced the industrial band whereas under the Special Load Tariff, low consumers will experience a 4.88% reduction in electricity.
“The Industrial band has been reduced to reward the productive use of electricity. Under the Special Load Tariff, Low Voltage (SLT-LV) consumers will experience a reduction of 4.88% in their electricity tariffs,” the release indicated.
Water tariffs, however, remain unchanged since it was increased by 0.34% late last year.
Significant or not, the reduction in electricity tariffs has the potential to positively impact the economic well-being of the average Ghanaian person by lowering expenses, increasing purchasing power, improving living standards, enhancing business competitiveness etc
