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Electricity tariffs to rise 1.83c per kWh or 9.3% in Q4 on higher energy costs: SP Group
ELECTRICITY tariffs will rise by an average of 1.83 Singapore cents per kilowatt hour (kWh) for the period Oct 1 to Dec 31, as compared with the previous quarter, national grid power operator SP Group said on Wednesday.
For households, the electricity tariff, before a 7 per cent goods and services tax (GST), will go up from 19.60 cents to 21.43 cents per kWh in the fourth quarter. This works out to an increase of about 9.3 per cent.
With the revision, the average monthly electricity bill for families living in four-room HDB flats will increase by S$7.01 before GST, assuming an average monthly consumption of 328.78 kWh, SP Group said.
The price hike is due to higher energy costs, which form a major component of the electricity tariff and are paid to power generation companies, it noted.
It added that the remaining components of the tariff remain unchanged. These comprise network costs, market support services fees, as well as market administration and power system operation fees.
Despite the price increase, the revised tariff and that of the preceding quarter are still the lowest in the last three years, SP Group said.
Electricity tariffs are reviewed quarterly based on guidelines set by the Energy Market Authority, which is the industry regulator.