Electricity tariffs to rise by average of 6.9% in Q3

ELECTRICITY tariffs are set to rise by an average of 6.9 per cent in the third quarter of this year, SP Group said on Friday.

From July 1 to Sept 30, electricity tariffs will increase by an average of 1.50 cents per kilowatt hour (kwh) as compared to the previous quarter.

The increase is mainly due to the higher cost of natural gas for electricity generation, said SP Group in a statement.

For households, the tariff will increase from 22.15 cents to 23.65 cents per kwh.

This means that the average monthly bill for a family living in a four-room Housing Board flat will go up by $5.61.

This will be the fourth consecutive quarter that electricity tariffs have increased.

From October to December last year, electricity tariffs were at 20.30 cents per kwh.

It increased to 21.56 cents per kwh from January to March this year, before rising to 22.15 cents per kwh from April to June.

In its statement, SP Group said it reviews the tariffs quarterly based on guidelines set by the Energy Market Authority, and that the tariffs have been approved by the electricity industry regulator.

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