SINGAPORE – Electricity tariffs are set to fall by an average of 9.6 per cent from Apr 1 to Jun 30, SP Services said on Wednesday.
This fall of 1.83 cents per kWh from the previous quarter is due to the lower cost of natural gas for electricity generation, which also dipped by 20.2 per cent.
Although network costs went up due to infrastructure investment to replace ageing assets and meet rising electricity demand, the lower cost of natural gas was more than enough to offset this increase.
For households, the electricity tariff will decrease from 19.50 cents to 17.68 cents per kWh, resulting in an average drop of $6.71, or 9.3 per cent, in the monthly electricity bill for families living in four-room HDB flats.
SP Services reviews electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA).
The electricity 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 the market administration and power system operation fee.
