The Public Utilities Regulatory Commission (PURC) has revealed that starting October 1, 2024, Ghanaians will face an increase in both electricity and water tariffs. The electricity rates will go up by 3.02%, while water tariffs will see a 1.86% rise.

This decision comes as part of the Commission’s quarterly review to adjust tariffs in line with fluctuations in key economic factors, including the exchange rate between the Ghanaian cedi and the US dollar, inflation rates, and the cost of natural gas.

In a statement issued on Saturday, September 28, the PURC highlighted that the cedi’s depreciation of 4.96% against the dollar during the second and third quarters of 2024 significantly influenced this decision. Other contributing factors include rising inflation and increases in natural gas costs, which led to revenue shortfalls of GH₵173.98 million in the electricity sector and GH₵12.01 million in the water sector.

The tariff adjustments are aimed at supporting the financial viability of key utility providers such as the Electricity Company of Ghana (ECG), Ghana Water Limited (GWL), and Northern Electricity Distribution Company (NEDCo).

The PURC emphasized that these changes are necessary to maintain the long-term sustainability of these sectors while ensuring consumer protection.