Singapore’s EV charging prices remain stable, but an April increase looms
Observers say climbing natural gas prices and a bump in electricity tariffs could make charging more expensive from next month
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[SINGAPORE] Unlike petrol, charging rates for electric vehicles (EVs) have not spiked as a result of recent conflict in the Middle East – but observers say that could soon change as electricity prices are expected to rise in April on mounting energy costs.
A senior manager at a major charging point operator (CPO) told The Business Times: “We are watching energy prices closely, and it is quite clear that the electricity tariff is likely to increase – the question is how much.”
“If it is a small increase, we may be able to absorb some of the cost, but if it’s a large increase, then we may have no choice but to revise charging rates upward,” he added.
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