ECG has proposed a 148% increment in electricity tarrifs effective this year. This is as made known by the general manager in charge of regulatory management of the ECG, Sylvia Noshie in an interview on 3FM Sunrise Morning Show on Tuesday, May 10th, 2022.
She stated that the 148% tariff increment is to cushion the ECG to stay in business. Thus if government fails to subsidize electricity tariffs, customers would have to pay a 148% increase in tariff in light bills from August 2022 onward.
The Ghana Water Company is also to Increase Water Tariffs By 334%
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Reasons For ECG New Electricity Tariff
- This is due to consistent increases in prices of copper, aluminum and other factors of electricity production and distribution over the past two years.
- It also mentioned the continual application of the prevailing tariff (which was a 14% lower) beyond the stipulated regulatory period and the effect of macroeconomic factors such as inflation and exchange rate fluctuation.
- As a result the general manager in charge of regulatory management of the ECG, Sylvia Noshie, has entreated the Public Utilities Regulatory Commission (PURC) to urgently approve the 148% tariff proposal.
- ECG attributes the high increase in the Distribution Service Charges to the gap that has developed over the years between the actual cost recovery tariff and the PURC approved tariffs as well as the cost of completed projects.
Failure To Implement New Electricity Tariff
- According to the ECG, failure to approve the 148% tariff increment proposal will result in the ECG to making a 200% increment demand next year.
About ECG New Electricity Tariff
- The Electricity Company of Ghana on May 9th, last year demanded a 148% increment on electricity tariffs from August 2022 onwards.
- ECG submitted a proposal to the Public Utilities Regulatory Commission (PURC) asking for an adjustment in electricity tariffs to cover the period between 2019 and 2022.
- ECG also proposed an average increase of 7.6% in tariff over the next four years to cover Distribution Service Charges (DSC). This was also made known with the statement:
- “The result of ECG’s tariff proposal for the next five years is asking for an approximately 148% increase in 2022 and an average increase of 7.6% year on year from 2023 to 2026. The high increase for the year 2022 could be attributed to the gap that has developed over the years between the actual cost recovery tariff and the PURC approved tariffs as well as the cost of completed projects,”
- ECG also seeks the support of government to introduce a streetlight tariff to enable it to properly account for the full cost of streetlight consumption.
- It also anticipates that government would support its financial sustainability by absorbing all cost associated with excess capacity charges.
ECG New Electricity Tariff
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