Leong Sze Hian


(Top: Singapore ranks 2nd, Credit: CLP Power)

I refer to the report “Electricity tariffs for households to go up by 12.5% in Q4” (CNA, Sep 29).

According to Hong Kong electricity producer CLP Power, which supplies about 80 per cent of Hong Kong’s power needs, in a media statement last year (Sep 2008), Singapore was ranked second among 21 cities for raising electricity tariffs most, since 2005.

For example, Singapore’s tariff in the table, rose by about 60 plus per cent, compared to about 15 per cent and 10 plus per cent for Hong Kong and Kuala Lumpur respectively.

Singapore Power’s (SP) Net Profit After Taxation for FY08/09 was $798 million, with revenue of $6,618 million.

Since SP provides the delivery of electricity, what about the profits of the power generation companies? Three of Temasek’s power generation companies have been sold to foreign companies.

For example, one of Singapore’s power companies, Seraya Power, was sold to YTL Corporation in Malaysia.

According to YTL’s web site, YTL Power registered a 43.8% jump in revenue for the 12 months ended 30 June 2009, due principally to the consolidation of approximately 4 months’ results from PowerSeraya, with PowerSeraya contributing RM197.4 million (US$56.4 m) in profit before tax.

As this is the profit from just one power generation company, how much in total profits do all the power generation companies make in a year?

And how much of these profits end up in the hands of foreign companies?

With about 117,000 unemployed residents as of June, and perhaps hundreds of thousands of Singaporeans suffering from reduced earnings in the current economic downturn, isn’t it time for a review of our national utilities policies, which allow the power sector to make huge profits, and to sell companies to foreign companies, without the need for parliamentary debate or approval?

Singapore’s tariff for the quarter starting in October, will be 21.69 cents per kilowatt hour, compared to Hong Kong’s 75.7 HK Cents (S$0.136) to 95.5 HK Cents (S$0.172) depending on consumption volume.

By the way, Hong Kong’s CLP Power froze and maintained their tariff for nine consecutive years until 2007.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
You May Also Like

National Solidarity Party launches free legal clinic

The following is a press release by the National Solidarity Party on…

尚穆根称一笑置之 惟警方需调查“蛋袭”威胁

对于早前本地一名青年在脸书留言,想效仿澳洲“鸡蛋男孩”,“蛋袭”内政暨律政部长尚穆根,对此后者在今早首次在脸书针对此事发文表达看法,认为这是年轻人的夸张言辞,但自己虽可一笑置之,警方却不能。 尚穆根说,看见一些媒体报导,有关青年Edmund Zhong因为恫言“蛋袭”他,而遭警方调查。 “当我被告知此事,我一笑置之–这是一个年轻人的浮夸言辞。”但他也表示,就算他可以忽略,警方需履行职责调查他。 然而,尚穆根却提到,自己更关注这青年的公开言行,也提及青年对麻醉品的立场。“我希望他实际上没有进一步尝试服用大麻”。 令人感到纳闷的是,青年对大麻的立场,和“蛋袭”威胁案有何直接关系?尚穆根何以从青年的一句留言,可以天马行空联想到青年的身家背景,包括对方的个人喜好? 在尚穆根的脸书,可见支持者的一面倒好评。有者认为,就算只是丢鸡蛋,警方也要严正看待,新加坡对治安不能妥协。 然而,也有一名网民也和笔者一样纳闷,在尚穆根的脸书留言道,如果尚穆根可以一笑置之,那么警方同样不必对该青年采取行动。 再者,如果青年对毒品的观点有偏颇,那应做别论,而不是两件事混为一谈。 据了解,目前Edmund Zhong正在服役。他在26日接受媒体采访时表示,强调那只是玩笑话,自己并没有恶意,也没有意图真得把“蛋袭”付诸行动。 Edmund…

S’pore’s total population drops to 5.69 million, with a fall in the number of non-resident population

In the latest annual Population in Brief report released by The Prime…

横撞停车场四车后冲上草坡 宾利复撞灯柱女司机入院

一辆宾利轿车在宏茂桥组屋停车场,疑似失控撞上停车场的三辆轿车和一辆货车,67岁的女司机被送院治疗。 车祸意外于今天(5月29日)上午,在宏茂桥4道第163栋组屋的停车场发生。 署名Liew的网友将有关车祸后的视频和照片分享到社交媒体上,立刻引起网民注意。 据图片和视频,可见宾利轿车的冲劲非常大,将其中一辆停放在停车场的奔驰撞得整个引擎盖脱落,白色货车也有大量刮痕。而宾利轿车在撞了四辆交通工具后,冲上了路旁的草坡,撞上灯柱后才停止。 警方表示已在早上7时16分接获有关的车祸投报,而67岁的女司机被送到邱德拔医院就医,当时她的意识清醒。 警方指出,目前调查仍在进行中。