The Public Utilities Regulatory Commission (PURC) has projected a revenue requirement of GH₵6.81 billion for the second quarter of 2024, reflecting an increase of GH₵1.14 billion over the first quarter’s GH₵5.67 billion requirement.
The PURC attributes this increase to the need for enhanced revenue to support the utility sectors.
Effective from July 1 to September 30, 2024, the PURC has announced an increment in electricity and water tariffs. According to a statement signed by the Executive Secretary, Dr. Ishmael Ackah, electricity tariffs for lifeline consumers (0-30kWh) will rise by 3.45%, while other residential consumers will see a 5.84% increase.
Despite the projected requirement, the PURC has decided to recover only GH₵5.90 billion of the GH₵6.81 billion needed for the second quarter.
This decision considers the revenue collection performance and the potential negative impact on customers if the entire revenue requirement were passed on in one tranche.
The remaining GH₵906.21 million will be recovered in subsequent quarters.
For the water sector, the revenue requirement for the second quarter of 2024 is GH₵670.18 million, up from GH₵635.86 million in the first quarter.
To meet this requirement, the water tariff has been adjusted upwards by 5.16%, with an additional GH₵34.33 million needing recovery in the second quarter.
The PURC emphasizes that these adjustments are essential to ensure the financial sustainability of the utility sectors while considering the economic impact on consumers.
