Electricity Tariffs Reduced Drastically Across the whole Country
From March 15, 2018, Ghanaians and Ghanaian business across the country started enjoying massive reduction in their electricity tariffs.
Residential customers per the new tariff cuts are enjoying a 17.5% reduction, while non-residential customers have their tariffs cut by 30%. Customers in the mining sector as well as the Special Load Tariff Customers (LV, MV & HV) have also been given a 10% and 25% tariff cut respectively.
The decision, according to the Public Utility Regulatory Commission (PURC), was arrived at after extensive consultations with stakeholders in the sector as well as detailed analysis of utility tariff proposals, consideration of inputs and concerns tendered in by players in the power sector value chain.
Utility service providers in the electricity sector that submitted proposals include Ghana Grid Company Limited (GRIDCo), Electricity Company of Ghana (ECG), Northern Electricity Distribution Company (NEDCo) and Enclave Power Company Limited (EPCL).
The commission in a press statement on March 5, 2018, announced that consumer interest, investor interest, economic development, revenue requirement, natural gas prices, re-negotiation of Power Purchase Agreements (PPAs), prudent and efficient costs of the operations of the utility companies and also the impending Private Sector Participation (PSP) Concession within the Electricity Distribution Sector were some major considerations it took into account before arriving at the tariff decision.