Residential and non-residential electricity consumers will heave a sigh of relief as they’ll soon enjoy a 13% reduction in tariff beginning January next year.
The Finance Minister Ken Ofori Atta announced this in Parliament during the 2018 budget presentation Wednesday also disclosed that other composite charges in the tariff build-up of electricity have been reduced by the government.
The reductions in electricity tariff as contained in the 2018 budget are; Residential – Up to 13%, Non Residential – 13%, Special Load Tariff- Low Voltage – 13% ,Special Load Tariff -Medium Voltage – 11%, Special Load Tariff -High Voltage – 14%, High Voltage Mines – 21%.
The government will also aggressively pursue the national LPG promotion policy in order to streamline the sector.
The development comes on the back of assurances by President Akufo-Addo last week that Ghanaians will see a massive relief in electricity charges come next year.
Below are Other microeconomic achievements announced by the finance minister
MACROECONOMIC PERFORMANCE FOR 2017
- Overall real GDP (as of June) 7.8%
- Non-Oil real GDP (as of June) 4.0%
- End-period inflation (as of October) 11.6%
- Overall budget deficit on cash basis as percentage of GDP(Sept) 4.5%
- Primary balance (Sept) 0.3%
- Current account balance (August) (0.2%)
- Gross International Reserves (import cover)-Sept 3.9%
- End year expected deficit 6.3%
