By: Momodou S. Fatty, Personal Financial Literacy advocate
The Gambia, National Water, and Electricity Company limited’s, the country’s electricity company, has announced a tariff increment effective April 10th, 2023.
As a regular prepaid customer, you can save costs before implementing the Tariff. The analysis uses old and new taxes on a 300Kwh as the average cost of electricity consumption indicates substantial cost savings, which can help boost business profitability and help families be better off on their personal expenditures.
A household or an office of appliances that consume up to 300Kwh a month will spend D3,042 on Cash Power based on the old Tariff; when the new Tariff is effected, this will increase to D4,155 per 300kwh; therefore, as a domestic customer, you can save up to D1,113 per month. For the rest of 2023, you can still save up to D10,017 on the cost of Cash power for the remaining nine months of 2023.
Corporate Customers can save up to D9,882, Councils can save D10,800, and the Central government can keep D11,475.
You can try this to save cost if the new tariff increment is implemented by April 10th, 2023. Remember, the price of saving is the same as the percentage increase in electricity, 36%; this has beat any investment you can Think of in The Gambia; hence no interest on investment can yield you 36% returns.