GRIDCo receives 13.5 per cent tariff increment

The Ghana Grid Company Limited (GRIDCo) has said the 13.5 percent tariff increment granted by the Public Utilities Regulatory Commission (PURC) out of the expected 39.89 percent, would affect the company’s operations.
The Company needed 39.89 percent to financially sustain its electricity transmission business and to ensure continuous viability, Mr Albert Kwesi Quainoo, Head of Public

Relations at the Company, said in a statement issued to the Ghana News Agency on Thursday.

He said the tariff increment announced recently did not favour the viability of GRIDCo’s electricity transmission business.

“The 13.5 per cent Transmission Service Charge approved by the PURC in September 2013 is 10.83 per cent reduction in real terms when compared to the increase of December 2011”, Mr Quainoo said.

The Head of the Public Relations said the reduction had affected GRIDCos ability to meet its financial obligations, purchase needed parts and other critical equipment.

Mr Quainoo said the Company needed upward adjustments of the tariff to continue to invest in its transmission systems and improve network to ensure the reliable supply of power to customers.

He said GRIDCo had agreed with public concerns for automatic tariff adjustments to be reintroduced and enforced from next year to enable the company to efficiently operate and maintain its systems.

“We also need more money to pay off our indebtedness and expand network”, Mr Quainoo said.

He said despite the challenges, GRIDCo would continue to provide quality, reliable and efficient electricity transmission services to the society.

Source: GNA/Ghana