Singapore raises electricity tariffs by 5.6% for next three months
At present, 24.11 per kilowatt hour (kWh) of electricity is charged before goods and services tax.
In this case, from January 1 to March 31, the SP Group has announced that the tariff will increase to 25.11 kas.
As a result, four-bedroom households, which use an average of 354 kilowatts of electricity per month, may have to pay an additional $ 4.70.
Rising fuel prices are said to be the main reason for the increase in electricity tariffs.
Electricity tariffs have been rising for the past few months due to global fuel shortages.
About 95% of Singapore’s energy comes from natural gas. It is imported by pipeline from neighboring countries or in liquid form from around the world.
Electricity tariffs in Singapore are calculated on the basis of four components.
Fuel costs account for almost half of that. Other share includes costs for operations such as maintenance of power plants, measurement of electricity, transmission of electricity through the power plant.
Electricity tariffs are reviewed quarterly by the SP Group and approved by the Energy Market Authority.
“Over the past few months, the global energy market has seen significant inflation due to recovering economic activity, severe weather events and the suspension of gas production. All this has led to high electricity tariffs in many parts of the world, ”the SP Group said.
Meanwhile, Citi Gas has announced that it will raise cooking gas tariffs by 6.1% in the first quarter of 2022.
Cooking gas tariff, which is currently 19.04 kas per kilowatt, will increase by 1.17 kas to 20.21 kas in the next quarter. If the goods and services tax is added, it will rise to 21.62 kas.
Citi Case attributed the increase to higher fuel prices and higher fuel costs than in the previous quarter.
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