Frema Osei-Opare, the President’s Chief of Staff, has urged the Public Utilities Regulatory Commission (PURC) to consider the public’s interest in light of present global economic situations while carrying out its mandate.
The Chief of Staff, who praised PURC for its critical role in continuing stakeholder engagement on the multiyear tariff review, said that existing regulatory procedures must be strengthened in order for utility firms to become financially sustainable.
This comment was given by Frema Osei-Opare during the opening of a PURC office building in Koforidua.
“It is my sincere desire that all stakeholders would actively participate in this review process and have their opinions heard so that the ultimate conclusion will benefit all stakeholders in general,” she added.
The Ghana Electricity Company requested a 148 percent rise in prices for 2022, with 7.6 percent average revisions between 2023 and 2026.
According to ECG, the planned steep increase is due to a disparity between actual cost recovery rates and PURC-approved prices, as well as the cost of completed projects.
The GWCL further claimed that, although the average rate per cubic metre in 2019 was 1.27 USD, due to cedi devaluation, it was decreased to USD 1.13 in 2020.
This, according to the GWCL, has hampered its capacity to repair and replace old and outdated equipment and pipes.