The Deputy Minister for Energy and Green Transition, Hon. Richard Gyan-Mensah has said the Ministry is taking steps to reduce electricity costs by ensuring that additional power is procured at the least cost and renegotiating existing Power Purchase Agreements (PPAs) to lower generation tariffs.
He made this known on the floor of Parliament when he appeared to answer questions on measures to address electricity tariff adjustments. He explained that the quarterly tariff adjustments were influenced by four factors: the exchange rate, inflation, the Weighted Average Cost of Gas (WACOG) and the hydro-thermal generation mix.
Hon. Gyan-Mensah who is also a Member of Parliament for Gomoa West Constituency added that the Lifeline Tariff was designed to support poor and low-income consumers.
He assured the House that the Ministry would continue working with the Public Utilities Regulatory Commission (PURC) to ensure electricity remains affordable, particularly for vulnerable consumers, while maintaining the sustainability of the power sector.
