Electricity and water tariffs are set to go up again by 6.54 per cent and 4.54 per cent respectively for the last quarter of the year, Chairman of the Public Utilities Regulatory Commission (PURC) Dr Emmanuel Annan announced on Tuesday, September 30.
The figure was reached using the Automatic Adjustment Formula (AAF), a mechanism that tracks and incorporates movements in key factors for the cost of electricity and water every quarter.
Though water tariffs also went up by 4.54 per cent, according to PURC, it will not come into effect “until such a time that certain regulatory requirements that protect consumers are met”.
In a statement, Dr Annan said the tariff increases for the October to December quarter were driven by a shift in the overdependence on crude oil as a result of challenges with the West Africa Gas Pipeline “and low volumes of water both in the Akosombo and Kpong hydroelectric dams”.
“The Commission also in its deliberations considered the current inadequate electricity supply situation which has resulted in load shedding in the country and its impact on consumers and customers of electricity and water.”
The statement pointed out that the increase in electricity tariffs is meant to help balance out the impact of the overdependence on crude oil in the energy mix.
The Commission urged all to conserve utilities in order to reduce some of the challenges “being faced with the reliable supply of these two essential commodities.”