Singapore electricity, gas prices to decrease from July to Sept due to lower energy and fuel costs
Singapore electricity, gas prices to decrease from July to Sept due to lower energy and fuel costs
SINGAPORE - Households here can look forward to smaller electricity and gas bills from July to September due to lower energy and fuel costs.
Electricity bills will decrease by 65 cents per kilowatt-hour (kWh), while gas prices will fall by 44 cents per kWh, before goods and service tax.
This comes after grid operator SP Group announced on June 30 a 2.3 per cent drop in electricity tariffs for households from the previous quarter.
An average 4-room HDB household may see a $ 2.36 drop in its monthly electricity bill before GST, for example.
City Gas, the producer and retailer of piped gas, said in a separate statement on the same day that the gas tariff will drop from 22.72 cents per kWh to 22.28 cents per kWh due to lower fuel costs compared with the previous quarter.
SP Group and City Energy review the electricity and gas tariffs every quarter based on guidelines set by the electricity and gas industry regulator, Energy Market Authority.
The energy component of the electricity tariff for each quarter is set using the average natural gas prices in the first two and a half months in the preceding quarter.
The fuel cost component of the gas tariff for each quarter is set using the average fuel prices in the first two and a half months in the preceding quarter.
The electricity and gas tariffs may fluctuate quarter to quarter due to volatile global fuel prices driven by geopolitical factors such as the ongoing conflicts in the Middle East.
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