The Ghana Statistical Service (GSS) has announced on Wednesday, May 17 that electricity and gas recorded a 59 percent inflation rate for April 2023.
This is an increase of 1.5 percentage points over the March rate of (57.5%).
This comes at a time the Public Utilities and Regulatory Commission (PURC) has approved tariff increases for natural gas and electricity for the second quarter of 2023.
This was after the Commission conducted Quarterly Tariff Reviews for the Second Quarter of 2023 as part of its regulatory mandate.
“The review has resulted in the Commission approving tariff increases for natural gas and electricity for the second quarter of 2023,” a statement issued on Wednesday, May 17 said.
It further explained that the quarterly tariff review mechanism seeks to track and incorporate changes in key factors used in determining natural gas.
“These factors are the Ghana Cedi/US Dollar exchange rate, inflation, electricity generation mix, and the weighted average cost of natural gas (WACOG),” the statement said.
“This review has become necessary to maintain the real value cost of supply of the utility services and to ensure that the utility companies do not under or over-recover costs,” it further indicated.