PURC approves 11.17% electricity tariff increment
The Public Utilities Regulatory Commission (PURC)has approved an 11.17 per cent tariff increase for recovery of total electricity revenue requirement for the regulated electricity market, effective July 1, 2019.
In a statement signed by Mrs Mami Dufie Ofori, the Executive Secretary PURC, said 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.
“This 2019-2020 Major Tariff Review Decision is the outcome of prudent cost review and effective monitoring undertaken by the Commission,” it said.
It said the decision was taken after the Commission considered tariff proposals from stakeholders, including the utility service providers in the electricity and water sectors.
Proposals were received from the 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 statement said.
The Statement said as a major policy shift aimed at enhancing the competitiveness of Ghanaian industries, the Commission has eliminated the Maximum Demand Charge on industrial customers (Special Load Tariff-SLT Customers).
It is expected that this policy will result in some SLT customers experiencing savings in their overall electricity bills.
Details of the approved electricity tariffs and the rationale for the decision will be published on the Commission’s website.
The statement said the Commission also received a tariff proposal from the Ghana Water Company Limited (GWCL) and the decision on this would be announced in due course.
“The Commission wishes to reiterate its unwavering commitment to ensuring the sustainability and growth of quality electricity and water service provision for socio-economic development,” the statement added.
Source: GNA