SINGAPORE: The electricity tariff for households will fall for the October to December period after it rose to a near five-year high in the previous quarter.
The tariff will decrease by an average of 3.3 per cent, or 0.79 cent per kilowatt hour (kWh), compared to the previous quarter. This is mainly due to the lower cost of natural gas for electricity generation, SP Group said on Monday (Sep 30).
For households, the electricity tariff will decrease from 24.22 cents to 23.43 cents per kWh, excluding Goods and Services Tax (GST), from Oct 1 to Dec 31. This means that the average monthly electricity bill for families living in four-room Housing Board flats will decrease by S$2.84, SP Group said.
READ: How do electricity retailers charge lower prices than SP Group? 5 questions answered
The rate of 24.22 cents in the July to September period was a 6.4 per cent increase from the preceding quarter and the highest rate since 2014. SP Group said then that the increase was due to the higher cost of natural gas.
SP Group reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority, the electricity industry regulator.
