Ghanaians will experience an increase in electricity and water tariffs starting today, October 1.

The Public Utilities Regulatory Commission (PURC) announced a 3.02% rise in electricity tariffs and a 1.86% increase in water tariffs for the third quarter of 2024.

The adjustments have been implemented due to several factors, including fluctuations in the exchange rate, inflation, and rising gas prices.

These economic conditions have necessitated the changes to ensure the sustainability of utility services.

The Head of Research and Corporate Affairs at PURC, Dr. Eric Obutey, emphasised that the decision to raise tariffs was not taken lightly.

He added that extensive analysis and deliberation were conducted to evaluate the implications of the adjustments on consumers and the overall utility sector.

“So exchange rates, the last time we used the exchange rates for the competition, the second quarter, we used about GH¢14 to the exchange rate. And we all know where the exchange rate is now. So the Cedi has depreciated basically against the dollar.

“And that is a major cause of this tariff adjustment. And inflation has also dipped from 24 percent to 22 percent. So on those two fronts, we have made some gains. But in the case of the exchange rate, the Cedi has depreciated against the dollar. So basically, that is what has made these marginal adjustments in the tariffs.”

As the new tariffs take effect, consumers will need to adjust their budgets accordingly, while the PURC assures that these changes are crucial for maintaining reliable utility services in the country.