Starting from April 1, 2024, residential customers consuming 301kWh or more will receive a 6.5% reduction in electricity tariffs.
The Public Utilities Regulatory Commission (PURC) announced this in a press release on its 2024 first-quarter tariff review decision for electricity, natural gas, and water.
The PURC said the reduction is to alleviate the financial burden on consumers within this consumption bracket.
However, it added that there will be no changes to the electricity tariffs for lifeline consumers, who utilise between 0-30kWh of electricity.
“There will be no change in the electricity of lifeline consumers (0-30KWh) as well as for residential consumers within the consumption bracket of 0-300kWh.
“There will however be an average reduction in electricity tariffs of 6.5% for residential consumers within the consumption bracket of 301kWh and above,” the commission said.
Additionally, tariffs within the 0-300kWh for the non-residential class of consumers remain the same with no change in their rates.
On the other hand, consumers within 301kWh and above class will experience an average reduction of 4.98%.
Meanwhile, water tariffs for the first quarter of 2024 will remain the same as in the fourth quarter of 2023.
On November 23, 2023, PURC announced an upward adjustment of water tariffs by 0.34%.
Below is the full statement