The Public Utilities and Regulatory Commission (PURC) has given its approval for tariff increases regarding natural gas and electricity for the second quarter of 2023. This decision was made following the Commission’s Quarterly Tariff Reviews for the same period, which falls within its regulatory responsibilities.
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In a statement released on Wednesday, May 17, the Commission confirmed the approval of tariff hikes for natural gas and electricity during the second quarter of 2023. The purpose of the quarterly tariff review is to monitor and incorporate changes in key factors that are utilized in determining natural gas prices.
These factors encompass the exchange rate between the Ghana Cedi and the US Dollar, inflation, the electricity generation mix, as well as the weighted average cost of natural gas (WACOG), as stated in the release. The review has become essential in order to maintain the actual cost value of supplying utility services and to ensure that the utility companies do not incur excessive or inadequate costs.
