The Public Utilities Regulatory Commission (PURC) has implemented a 4.22 percent increase in electricity tariffs, affecting all non-lifeline residential customers and thereby impacting the average end-user.
This tariff adjustment decision comes as a result of a review conducted by the PURC for the third quarter of 2023. The primary aim behind this adjustment is to maintain the genuine value of the cost associated with delivering utility services.
The newly adjusted tariff structure will keep the current rates intact for lifeline customers, industrial customers, and other non-residential entities such as hairdressing salons, barber shops, chop bars, tailoring and dress-making establishments, cold stores, and other small- to medium-scale businesses.
“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 said
Regarding water tariffs, lifeline customers will experience a freeze on tariff adjustments, meaning their rates will not be increased or altered (0%). However, for other categories of water consumers, the PURC has approved a 1.18 percent increase in tariffs.
The Quarterly Tariff Review Mechanism is designed to monitor and incorporate changes in the key factors that influence the determination of natural gas and electricity tariffs.