Electricity tariffs in Ghana will now be reviewed every three months, according to Kojo Oppong-Nkrumah, Ranking Member on Parliament’s Economy and Development Committee.

He stated that this policy is part of the government’s plan to ensure cost recovery in the energy sector. Addressing journalists at a Minority press conference on Thursday, March 13, Oppong Nkrumah explained that the periodic adjustments are intended to stabilize the financial health of the country’s power industry.

He clarified that the tariff reviews would reflect fluctuations in production costs, fuel prices, and exchange rates.

However, he expressed concerns about the potential impact on consumers, particularly households and businesses already struggling with the rising cost of living.

“The adjustment of electricity tariffs every three months is meant to reflect changes in production costs, fuel prices, and exchange rate fluctuations,” he stated.

Oppong Nkrumah also criticized the government for failing to introduce measures to cushion consumers against these tariff hikes.

“While the government argues that this is necessary for sustainability, we must also consider how it affects ordinary Ghanaians. Frequent adjustments could place an additional burden on citizens,” he warned.

Without a well-planned approach, he cautioned, the policy could lead to economic difficulties and weaken business competitiveness.

He urged the government to focus on improving efficiency in the energy sector instead of relying on regular tariff increases.

Additionally, he called for greater transparency in pricing mechanisms and advocated for a broader discussion among stakeholders to find a balance between sustainability and affordability.