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Singapore power tariffs to be up by 7.5% in Q3

ELECTRICITY tariffs in Singapore will increase by an average of 1.5 Singapore cents per kilowatt-hour (kWh), or 7.5 per cent, in the third quarter of this year from the second quarter, SP Services said in a statement on Tuesday.

The hike in Q3 is due to a 15.1 per cent increase in the cost of natural gas for electricity generation from Q2, SP Services said.

The electricity tariff for households will be revised to 22.41 cents per kWh for the third quarter and the average monthly electricity bill for families living in four-room Housing & Development Board flats will increase by S$6.01.

SP Services reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority, the electricity industry regulator.

Electricity tariffs consist of four components: energy cost, network cost, market support services fee and the market administration and power system operation fee.

Energy costs is the only component that is affected by the latest hike. The costs of the other three components will remain unchanged.