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Electricity tariffs to increase by 2.8% from April 1 to June 30

SINGAPORE — Electricity tariffs will increase by an average of 2.8 per cent, or 0.59 cent per kilowatt hour between April 1 and June 30 compared to the previous quarter, SP Group announced on Thursday (March 29).

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SINGAPORE — Electricity tariffs will increase by an average of 2.8 per cent, or 0.59 cent per kilowatt hour between April 1 and June 30 compared to the previous quarter, SP Group announced on Thursday (March 29).

Noting that the cost of producing electricity has risen, the utility provider said the electricity tariff will increase from 21.56 to 22.15 cents per kWh in the next three months.

"The average monthly electricity bill for families living in four-room HDB flats will increase by S$1.86," SP Group added.

This means the average one-room HDB household will pay 71 cents more per month from April to June, while the average semi-detached household will pay about S$6 more. Their average monthly bills in next quarter would be S$26.69 and S$229.37, respectively.

Beginning April, some 108,000 households and 9,500 business accounts in Jurong (postal codes starting with 60, 61, 62, 63 and 64) will be able to choose which provider to buy their power from — a break from the current model of getting it from a sole, government-linked provider — which could result in some savings.

The option will be extended to the rest of Singapore in the second half of 2018.

To help consumers compare prices across different electricity retailers, the Energy Market Authority (EMA) will come up with an online platform by the second half of 2018 that shows the various price plans in the market.

Since 2001, the Government has progressively opened up the electricity market to competition to promote more competitive pricing as well as give consumers more choices.

Electricity tariffs are reviewed by SP Group every quarterly based on guidelines set by the EMA.

In the previous quarter, electricity tariffs rose to their highest levels in more than two years due to the higher cost of natural gas for electricity generation.

From Jan 1 to March 31 this year, tariffs rose by an average of 6.3 per cent, or 1.26 cents per kWh.

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