Effective today June 1, the Electricity Company of Ghana (ECG) and the Ghana Water Company have commended implementing revised utility tariffs for the second quarter of 2023.
These new tariffs, approved by the Public Utilities Regulatory Commission (PURC) in May, bring an 18.36 percent increase in end-user electricity prices, adding to the nearly 30 percent hike experienced in the first quarter.
For residential water customers, the new tariffs will result in a nine percent rise in prices, from GHp/M3 433.38 to 472.39. Non-residential customers, on the other hand, will face a 15 percent tariff increment, with prices going up from GHp/M3 1215.11 to 1397.38.
Sachet water producers will see a significant 22.22 percent increase in their tariffs, jumping from GHp/M3 1,800.00 to 2,200.00. Industrial water customers, on the other hand, will experience a 25 percent hike, with tariffs rising from GHp/M3 2000.00 to 2,500.00.
In contrast, commercial and bottled water and drinks producers will benefit from a 16.6 percent reduction in tariffs, lowering prices from GHp/M3 3000.00 to 2500.00.
These upward adjustments in tariffs, according to the ulitities refular, PURC, are attributed to the combined impact of currency depreciation, inflation, increased gas costs, and higher expenses for chemicals used in raw water treatment.
The quarterly review of utility prices is a requirement under the 3-billion dollar support programme that the government entered into with the International Monetary Fund (IMF) to revive Ghana’s struggling economy.