The Chamber of Independent Power Producers Distributors and Bulk Consumers, has charged the Public Utilities Regulatory Commission PURC to ensure consumers get value for their money.
This comes after the Public Utilities Regulatory Commission (PURC) announced a 27.15% increase in tariff for electricity and 21.55% increase in water tariff effective September 1, 2022.
Commenting on the increase in an interview with Citi Business News, Chief Executive Officer of the Chamber, Elikplim Apetorgbor also urged the Commission to ensure that utility service providers do not transfer their
“I must commend the PURC for the level of independence and transparency exhibited throughout the tariff increment this year. During the unimaginable economic conditions, the tariff adjustment has become inevitable especially when the underlying price determinants are out of control. The most important thing is for ECG to make the required revenue and settle the key stakeholders in the electricity supply value chain.”
“I will like to challenge the regulator, the PURC to ensure consumers get real value for their money and not pay for ECG’s inefficiencies. Enough of commercial and technical loses, enough of these stories. Let them up their game and provide us the best of service. I must commend PURC again and for the resolve to lower tariffs for the small and medium scale industries. On a first side, it is a great push and support for the local industries to thrive well in the competitive space,” he said.
Recent data shows that ECG’s indebtedness to the IPPs as of July 2022 stands at $908m
“It will interest you to know that ECG as of the end of July this year has accumulated up to $908 million to the IPPs alone. So, it is important to make the required revenue to settle this debt”, he added.