HOUSEHOLD electricity and gas bills are set to rise in the fourth quarter of 2023, following an increase in tariffs announced by state energy suppliers on Friday (Sep 29).

From Oct 1 to Dec 31, the electricity tariff before the 8 per cent goods and services tax (GST) will go up by an average of 3.7 per cent or 0.98 Singapore cent per kilowatt-hour (KWh) from the previous quarter. This means the electricity tariff before GST will increase to 28.7 cents per KWh from 27.74 cents.

For families residing in Housing and Development Board four-room flats, the average monthly electricity bill will rise by S$3.57 or 3.5 per cent before GST.

Local power grid vendor SP Group attributed the rise in tariff to energy costs being higher in Q4 than in the third quarter.

Energy costs, paid to generation companies, comprise 76.5 per cent of the Q4 electricity tariff and will increase by 0.96 cent per KWh.

The other components contributing to the overall electricity tariff – network costs, market support services fee, as well as the market administration and power system operation fee – will remain unchanged in the final quarter of the year.

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Separately, City Energy announced that the gas tariff before GST will rise by 0.51 cent to 22.42 cents per KWh in Q4, from 21.91 cents in Q3. After factoring in the 8 per cent GST, the general tariff will be 24.21 cents, City Energy said, adding that the increase was due to fuel costs being higher than in Q3.

Both SP Group and City Energy review tariffs quarterly, based on guidelines set by the Energy Market Authority.