The PURC’s decision to increase electricity tariffs by 1.14% for Q4 2025 was predicated on
specific, and as it turned out, profoundly pessimistic economic assumptions. The most critical
of these was the projected Ghanaian cedi to US dollar exchange rate of Ghc 11.9735/USD,
which was further adjusted to an effective rate of Ghc12.3715/USD to account for a claimed
under-recovery from the previous quarter.