Ghana is currently battling a number multi-sector crisis that has ravaged that living the standard of many citizens.
From food insecurity to power crisis, from water shortage to killer taxes to outrageous inflation and economic meltdown, the crisis seem unending.
As though bearing the brunt of that is not enough Ghanaians will now have to pay more for power and water.
The Public Utilities Regulatory Commission (PURC) announced an adjustment in utility prices, with electricity tariffs set to rise by 3.02% and water tariffs increasing by 1.06%, effective from October 1, 2024. The new rates will affect all categories of consumers across the country.
In a statement issued on Saturday, September 28, the PURC explained that the adjustments were necessary due to factors including inflation, currency exchange rate changes, and fluctuations in gas prices. These elements played a major role in the revision of utility tariffs for the third quarter of the year.
The commission emphasized that Ghana’s current economic challenges, rising living costs, and the need for industry competitiveness were crucial considerations in determining the new rates.
“Following our quarterly review, the commission has decided on an increment in utility prices to reflect the changes in key economic parameters, including the exchange rate and gas costs. We also accounted for the prevailing living standards and the broader economic environment to ensure fair and sustainable pricing,” the PURC said.
