The electricity tariff for the last quarter of 2019, between 1 October to 31 December, will decrease by an average of 3.3% or 0.79 cents per kWh compared to the previous quarter, said SP Group on Monday (30 September).
In a statement, SP Group attributed the decrease to the lower cost of natural gas for electricity generation compared with the previous quarter which was at a five-year high.
Electricity tariffs for households before GST will decrease from 24.22 to 23.43 cents per kWh. The statement noted that this means the average monthly electricity bill for families in four-room HDB flats will drop by approximately S$2.84 before GST.
The statement added, “SP Group reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA), the electricity industry regulator.”
Between July and September, the tariffs were at a rate of 24.22 cents, which was a 6.4% increased from the quarter before, and was the highest the rate has been since 2014. At the time, SP Group attributed the increase to higher costs of natural gas.
Earlier in April, tariffs had decreased by an average of 4.7% or 1.10 cents per kWh compared to the first quarter of 2019, similarly due to the lower cost of natural gas.