The Public Utilities Regulatory Commission (PURC) has announced a 17.5% reduction in electricity tariffs for residential consumers effective march 15.
A statement signed by executive secretary Mrs. Mami Dufie Ofori on Monday also indicated a 30% reduction for non-residential consumers, 25% reduction for Special Load Tariff consumers and 10% reduction for mines.
The review exercise, as explained in the statement, has become necessary because the commission is required by the Public Utilities Regulatory Commission Act 1997 (Act 538) to investigate the cost of production of all sources of supply of electricity to all distribution utilities and to ensure efficient and equitable tariffs as well as ensuring that tariffs are relevant to the current socio-economic environment.
The commission in its statement also indicated consumer interest, investor interest, economic development, revenue requirement, and natural gas requirement as some of the major considerations it took into account in arriving at the new tariffs.
The new tariffs structure as announced is expected to remain the same until 2019 when it is reviewed again.
The commission did not however review water tariffs.
“Review of water tariffs require further consultations and the commission is unable to announce a decision at this time,” the statement explained.
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