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Electricity tariffs to go down by 0.7% for next three months

SINGAPORE — Electricity tariffs will go down by an average of 0.7 per cent, or 0.14 cent per kWh, for the next quarter starting Saturday (Oct 1), announced SP Services on Friday (Sept 30).

Reuters file photo

Reuters file photo

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SINGAPORE — Electricity tariffs will go down by an average of 0.7 per cent, or 0.14 cent per kWh, for the next quarter starting Saturday (Oct 1), announced SP Services on Friday (Sept 30).

The new tariff for households has been set at 19.13 cents per kWh, down from 19.27 cents per kWh in the current quarter. According to SP Services, this means the average monthly electricity bill for families living in four-room Housing and Development Board (HDB) flats will decrease by S$0.57.

The household electricity tariffs for the October to December will be the second lowest of the year, behind the average April-June tariff rate of 17.68 cents per kWh. During the same period last year, the household electricity tariff was 20.35 cents per kWh.

SP Services said the upcoming quarter’s tariff reduction is due to the lower cost of natural gas for electricity generation, which fell by 2.5 per cent compared to the previous quarter.

Electricity tariffs are reviewed quarterly by SP Services based on guidelines set by the Energy Market Authority (EMA), the electricity industry regulator.

The tariff consists of energy costs paid to generation companies, network costs paid to SP PowerAssets, a market support services fee paid to SP Services, and a market administration and power system operation fee.

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