Ranking Member on Parliament’s Economy and Development Committee, Kojo Oppong Nkrumah, has disclosed that electricity tariffs in Ghana will now be reviewed every three months as part of the government’s cost-recovery strategy in the energy sector.
Speaking at a press conference held by the Minority in Parliament on Thursday, March 13, Mr. Oppong Nkrumah explained that the policy aims to reflect changes in production costs, fuel prices, and exchange rate fluctuations to stabilise the financial health of the power sector.
“The adjustment of electricity tariffs every three months is meant to reflect changes in production costs, fuel prices, and exchange rate fluctuations,” he stated.
However, he expressed concerns about the impact of the frequent tariff adjustments on consumers, particularly businesses and households already struggling with the high cost of living.
“While the government argues that this is necessary for sustainability, we must also consider how it affects ordinary Ghanaians. Frequent adjustments could place an additional burden on citizens,” he warned.
Mr. Oppong Nkrumah further criticised the government for not implementing adequate cushioning measures to mitigate the effects of potential tariff hikes, warning that without a well-structured approach, the policy could lead to increased hardship and reduced business competitiveness.
He called on the government to prioritise efficiency in the energy sector rather than relying on periodic tariff increases as a long-term solution.
Additionally, he urged for greater transparency in the tariff-setting process and called on stakeholders to engage in broader discussions on balancing sustainability with affordability for consumers.
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