The Public Utilities Regulatory Commission (PURC) has implemented a 4.22 percent increase in electricity tariffs for all non-lifeline residential customers, affecting the average end-user.
This decision comes after a review carried out for the third quarter of 2023 by the PURC. According to the PURC, the primary objective behind the tariff adjustment is to ensure that the real value of the cost of providing utility services is upheld.
The new tariff structure maintains the existing rates for lifeline customers, as well as for industrial customers and non-residential entities like hairdressing salons, barbering shops, chop bars, tailoring and dress-making shops, cold stores, and other small- to medium-scale businesses.
Therefore, these segments of customers will not experience any changes or increments in their electricity tariffs.
In terms of water tariffs, the lifeline customers will also benefit from a freeze on tariff adjustments, with no increase or alteration (0%) in their rates. However, for all other categories of water consumers, the PURC has approved a 1.18 percent increase in tariffs.
The Quarterly Tariff Review Mechanism seeks to track and incorporate changes in key factors used in determining natural gas and electricity tariffs.
“The PURC is continually grateful to all stakeholders for their support as it continues to implement quarterly tariff reviews in accordance with its Rate Setting Guidelines for Quarterly Review of Natural Gas, Electricity, and Water Tariffs. The Commission wishes to assure its stakeholders that it will continue to monitor the operations of the service providers to ensure quality delivery of service while balancing the interests of Consumers and Utility Service Providers,” PURC’s statement added.
The second quarter tariff was increased by 18.36 percent.
Source: Citi News