The Public Utilities Regulatory Commission (PURC) has implemented a 4.22 percent increase in electricity tariffs for all non-lifeline residential customers, impacting the average end-user. This decision follows a review conducted for the third quarter of 2023 by the PURC.
The primary objective of this tariff adjustment is to maintain the real value of the cost of providing utility services. However, the new tariff structure maintains existing rates for lifeline customers, industrial customers, and non-residential entities such as hairdressing salons, barbering shops, chop bars, tailoring and dress-making shops, cold stores, and other small- to medium-scale businesses. These segments of customers will not experience any changes or increments in their electricity tariffs.
In terms of water tariffs, lifeline customers will also see no increase or alteration (0%) in their rates. However, all other categories of water consumers will face a 1.18 percent increase in tariffs.
The Quarterly Tariff Review Mechanism is aimed at tracking and incorporating changes in key factors used to determine natural gas and electricity tariffs. The PURC expressed gratitude to stakeholders for their support and assured that it will continue to monitor service providers’ operations to ensure quality delivery of service while balancing the interests of consumers and utility service providers.
This tariff increase follows the 18.36 percent increase in electricity tariffs during the second quarter.
Source: Norvanreports