The Government has agreed to reduce the recently upwardly adjusted electricity tariff from 59.2% to 52%.
Organised Labour had demanded that the increase be reduced to 50% for both power (59.2%) and water (67.2%), which were announced by the Public Utilities Regulatory Commission (PURC) late last year.
Organised Labour returned to the negotiation table following a nationwide demonstration, which was supposed to have been followed by a two-day nationwide strike.
The two parties reached a compromise on Tuesday January 26 after their latest meeting.
Apart from slashing the power tariff increase from 59.2% to 52%, the Government has also agreed to “cushion” Industry against the tariff hikes.
The Association of Ghana Industries (AGI) is to write to the Presidency identifying two prioritised areas for which industries will need cushioning.
Labour and Employment Minister Haruna Iddrisu said lifeline and vulnerable consumers will also be factored into the new figures, which are to be officially announced by the PURC.