In fulfillment of President Akufo-Addo’s promise of a revision in electricity tarrifs, the Minister of Finance Ken Ofori-Attah in his presentation of the 2018 Budget to Parliament has revealed that Ghanaians are bound to see a reduction in the price of electricity come 2018.
This will come as a relief to many Ghanaian households as the price of electricity is seen to be soaring in recent times.
The Minister of Finance in a bid to address the issue said, “the existing 4-tier tarrif classification of residential consumers will be collapsed into Lifeline and Non-Lifeline consumers in phases to give relief to the poor whose individual consumption fall in the subsidized life-line category but who live in a compound house.”
The move will see residential users of electricity paying up to 13% less.
For High Voltage Mines, Mr. Ken Ofori-Attah disclosed that they will see a reduction of up to 21% in electricity tarrifs, while Low Voltage users will pay up to 13% less.
In the reading, the Minister of Finance also revealed that Medium Voltage and High Voltage electricity consumers will see a reduction of 11% and 14% respectively.
According to Mr. Ken Ofori-Atta, not only will Ghanaians see electricity becoming affordable, but in addition, “government in 2018, will work towards keeping the lights on”.
He stated that “particularly, industries and small businesses through reform and policy interventions over a two-year period” will also feel some reprieve especially in light of the power cuts which bedeviled several businesses in the country between 2013 and 2015.
These reforms are however on condition that the Public Utilities Regulatory Commission accepts the recommendations in the 2018 Budget.
By: Godwin Kpade/beachfmonline.com/Ghana
