Household electricity, gas tariffs to fall in Q2

SINGAPOREAN households can expect to pay slightly lower electricity and gas rates in the second quarter of 2024, compared to the previous quarter.

On Thursday (Mar 28), state energy suppliers SP Group and City Energy each announced a decrease in tariffs for electricity and gas from Apr 1 to Jun 30, amid lower costs compared with the first quarter of 2024.

The electricity tariff will decrease by 0.3 per cent or S$0.001, to S$0.2979 per kilowatt-hour (kWh) before goods and services tax (GST), from S$0.2989 in Q1.

This translates to a S$0.33 lower average monthly electricity bill for families living in a four-room Housing and Development Board (HDB) flat.

Overall electricity tariffs – including for non-households – are projected to fall by an average of 0.4 per cent or S$0.0012 per kWh compared to Q1.

City Energy said the gas tariff for households, meanwhile, is due to fall by 0.1 per cent or S$0.0003, to S$0.2312 per kWh, from S$0.2315 a quarter earlier.

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After factoring in GST of 9 per cent, this means the revised tariff would stand at S$0.252 per kWh.

In terms of bulk consumption, those who use a minimum of 1,000 kWh of gas per month will have their pre-GST tariff lowered to S$0.2191 per kWh, versus S$0.2201 in the previous quarter. This translates to a post-GST tariff of S$0.2388 per kWh.

Those with a minimum consumption rate of 50,000 kWh of gas per month will have a revised tariff of S$0.2131 per kWh before GST (S$0.2323 after GST), down from the pre-GST rate of S$0.2145 per kWh in Q1.

SP Group and City Energy each review the respective electricity and gas tariffs every quarter, based on guidelines set by the energy industry regulator, Energy Market Authority (EMA).

Household energy bills for Q1 were notably higher than in the last quarter of 2023 due to rising energy costs, higher carbon tax and the then-impending increase in GST to 9 per cent from 8 per cent.