The electricity tariff for households is expected to increase by about 9.3 per cent for the October to December period due to higher energy costs, said Singapore’s national utility SP Group on Wednesday (30 Sept).
For the quarter ending 31 December, the tariff will increase from 19.6 cents to 21.43 cents per kWh, which excludes Good and Services Tax (GST). While the fourth-quarter rate is 22.93 cents per kWh, which includes GST, as reported by Channel News Asia.
Excluding GST, the average monthly electricity bill for families living in four-room flats will increase by S$7.01, said SP Group.
“The increase this quarter is due to higher energy costs, which forms a major component of the electricity tariff and is paid to power generation companies,” the company explained.
SP Group added that the revised tariff and that of the preceding quarter are still the lowest over the last three years.
“The remaining components of the tariff, consisting of network costs and market support services fees to SP Group and Market Administration and Power System Operation Fee to Energy Market Company and Power System Operator, remain unchanged,” it noted.
The SP Group reviews the electricity tariff in quarterly based on guidelines set by the electricity industry regulator, Energy Market Authority (EMA).
Meanwhile, EMA clarified that the revised rate will only apply to SP Group’s consumers who are buying electricity from the company at the regulated tariff.