GhanaNews

PURC: Utility tariff adjustment not influenced by IMF

The PURC attributed the tariff increase to inflation, the cedi-dollar exchange rate, the current economic situation and the weighted average cost of natural gas

The Public Utilities Regulatory Commission (PURC) has refuted claims by a section of the public that the recent 18.36% upward adjustment in utility tariffs was influenced by the International Monetary Fund (IMF) conditionalities.

Recently, the IMF approved a US$3 billion loan to Ghana, with a US$600 million immediate payout, to restore macroeconomic stability and improve the country’s debt sustainability.

Within the same period, the PURC announced an upward adjustment in tariffs for electricity and natural gas by 18.36% across the board for all consumer groups beginning from 1 June.

The timing of the adjustment has led a section of Ghanaians to believe it is part of the IMF conditionalities for the loan. However, the Bono regional manager of PURC, Patrick Antwi, has refuted the claim. He said the commission is mandated to review tariffs quarterly to ensure that it manages cost effectively, adding that it has nothing to do with IMF conditionalities.

Antwi said, “…as a commission, we are mandated to review and adjust tariffs quarterly and that is what we have just done. What we did in the first quarter is the same thing we are doing in the second quarter. So, if they are linking the second quarter to that of IMF, then I’m a bit confused.”

The PURC attributed the tariff increase to inflation, the cedi-dollar exchange rate, the current economic situation and the weighted average cost of natural gas.

The regional manager of the PURC said the commission is embarking on an education campaign dubbed “Know your consumption”. This, he said, is to ensure that people understand how much they consume and the need to conserve energy.

Antwi urged consumers to conserve energy, pay their bills on time and avoid illegal connections.

He said, “We are carrying out [public] education known as ‘Know your consumption.’ We have realized that it is very important to carry out such an activity because people need to understand how much they consume every month to be able to appreciate what they are paying for.”

 

Reporting by Daniel Donkor in the Bono Region

 

 

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