Beginning October 1, 2024, Electricity tariffs will go up by 3.02% while water tariffs will see a 1.86% increment.
This was announced by the Public Utilities Regulatory Commission (PURC) in a statement, on the 2024 third quarter tariff review decision, released on September 28, 2024.
According to the statement, the adjustment was influenced by various factors which include gas prices, exchange rates, as well as domestic inflation rate. "By incorporating changes in the values of these indicators in the quarterly tariff reviews, the Commission ensures that the real value of the tariffs are maintained, to provide for the financial viability and ability of utility service providers to deliver on their mandate.
This is necessary to keep the light on and the water flowing." The commission further noted that all categories of consumers will be affected by the new tariffs. "Following the quarterly tariff review, the Commission wishes to inform the public that there will be a 3.02% increment in electricity tariffs and a 1.86% increment in water tariffs for the Third Quarter of 2024 for all categories of customers. "The Commission's decision is based on changes in some key parameters, such as inflation rate, exchange rate, and the Weighted Average Cost of Gas (WACOG) over the projected Third Quarter.