The Public Utilities Regulatory Commission (PURC) has announced that, from September 1, 2023, electricity and water tariffs will increase by 4.22 percent and 1.18 percent.
This comes after the PURC completed the legal process for the quarterly adjustment of tariffs.
Excerpts of a statement issued by the PURC on August 22, 2023 reads “The PURC is continually grateful to all stakeholders for their support as it continues to implement quarterly tariff reviews in accordance with its Rate Setting Guidelines for Quarterly Review of Natural Gas, Electricity, and Water Tariffs.
“The Commission wishes to assure its stakeholders that it will continue to monitor the operations of the service providers to ensure quality delivery of service while balancing the interests of Consumers and Utility Service Providers.”
The PURC reached this conclusion following a review conducted in the third quarter of 2023. The main goal of the tariff adjustment, according to the PURC, is to ensure that the actual cost of providing utility services is maintained.
Existing prices for lifeline consumers, industrial users, and non-residential companies like hair salons, barbershops, chop bars, tailoring and dress-making shops, cold stores, and other small and medium-sized businesses would be maintained under the new tariff structure.
The water prices for Lifeline customers will not change at all (0% increase or decrease) during the tariff adjustment freeze. The PURC has approved a 1.18 percent increase in water rates for all other types of customers.
The purpose of the Quarterly Tariff Review Mechanism is to monitor and account for changes in the most important criteria that influence natural gas and electricity rates.
