The Public Utilities Regulatory Commission (PURC) has executed a 4.22 percent hike in electricity tariffs targeting non-lifeline residential customers, impacting the average end-user across the spectrum.
The decision comes on the heels of a comprehensive review conducted by the PURC for the third quarter of 2023. The fundamental objective behind this tariff adjustment, as stated by the PURC, is to uphold the genuine value of the cost associated with providing essential utility services.
The new tariff structure keeps intact the pre-existing rates for lifeline customers, as well as for industrial consumers and non-residential entities encompassing hairdressing salons, barbering shops, chop bars, tailoring and dress-making establishments, cold stores, and other small- to medium-scale businesses. Consequently, these particular customer segments will remain unaffected by any alterations or escalations in their electricity tariffs.
In the realm of water tariffs, lifeline customers emerge as beneficiaries with their rates experiencing a halt in tariff adjustments, translating to no changes or modifications (0%) in their existing rates. Nevertheless, for all other categories of water consumers, the PURC has sanctioned a 1.18 percent augmentation in tariffs.
The Quarterly Tariff Review Mechanism, a pivotal component of the process, is engineered to meticulously track and assimilate transformations in the pivotal factors that contribute to the formulation of natural gas and electricity tariffs.
