The Public Utilities Regulatory Commission (PURC) has defended its position on the downward review of utility tariffs, attributing it to a number of factors.

PURC highlighted inflation and a stable exchange rate as some of the factors that resulted in the 1.52 percent decrease in electricity tariffs effective December 1, 2023.

Director of Research and Corporate Affairs, Dr. Eric Obutey, says the production of more gas and hydro also pushed the tariff down.

“The downward review was necessitated by four factors: the generation mix, where we now run more hydro compared to thermal. The hydro now is about 31.9%, and thermal is about 68%.”

“We have a downward trend in inflation, which has dipped by about 3.6%, and we also have fuel prices, which have gone down by about 5.9%. So if you put all together, these necessitated the downward trend in electricity prices,” Dr. Eric Obutey explained.

The PURC, in its 2023 fourth-quarter tariff review, announced a 0.34% increase in water tariffs and a 1.52% decrease in electricity tariffs to take effect on December 1, 2023.

The water tariff for residential customers increased from GHS/m³ 4.72 to 4.74, while non-residential customers moved from GHS/m³ 14.13 to 14.19.

For water sachet producers, their tariff has been hiked from GHS/m³ 22.26 to 22.34; industrial consumers will have their tariff moved from GHS/m³ 25.29 to 25.38.