Kojo Oppong Nkrumah, the ranking member of Parliament’s Economy and Development Committee, announced that Ghana’s electricity rates will now be examined every three months.
He claims that this policy is a component of the government’s larger plan to guarantee cost recovery in the energy industry.
During a press conference hosted by the Minority in Parliament on Thursday, March 13, Mr. Oppong Nkrumah clarified that the action is in line with initiatives to stabilize the nation’s power sector’s financial stability.
“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 worries about how this policy will affect consumers, especially households and businesses that are already having difficulty keeping up 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.
Additionally, Mr. Oppong Nkrumah chastised the government for failing to implement sufficient buffering measures to lessen the impact of these tariff increases.
