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Singapore: Electricity tariff to rise by an average of 9.9% in Q2 on higher energy costs
SINGAPORE’S electricity tariff is set to rise in the second quarter due to higher energy costs arising from surging global oil and gas prices, exacerbated by the conflict in Ukraine.
For the period between Apr 1 and Jun 30, the tariff (before the goods and services tax or GST) will rise by an average of 9.9 per cent or S$0.0249 per kilowatt hour (kWh) from the rate in the previous quarter, utilities company SP Group announced on Thursday (Mar 31).
For households, the electricity tariff before GST will increase to S$0.2794 per kWh from S$0.2544. The average monthly electricity bill for families living in Housing Board 4-room flats will rise by S$8.73.
SP Group reviews the electricity tariffs every quarter based on guidelines set by the electricity industry regulator, Energy Market Authority (EMA).
Separately on Thursday, EMA said it will extend measures it has rolled out to secure Singapore’s energy supply and stabilise energy prices until end-June.
It will extend its Temporary Electricity Contracting Support Scheme, including contracts with significant fixed price components.
Other measures include having a standby liquefied natural gas (LNG) facility, directing generation companies to maintain sufficient fuel for power generation, as well as modified market rules.
Source: https://www.businesstimes.com.sg/energy-commodities/electricity-tariff-to-rise-an-average-of-99-in-q2-on-higher-energy-costs