Household electricity and gas tariffs to decrease for Oct to Dec quarter amid lower energy costs

Singapore’s electricity and gas tariffs will decrease in the October to December 2024 quarter, largely due to a drop in energy and fuel costs, according to national grid operator SP Group and gas provider City Energy. This development offers households some financial relief as utility bills decline slightly.

SP Group, a subsidiary of Singapore’s sovereign wealth fund Temasek, announced on 30 September 2024 that the electricity tariff will fall by 2.6%, translating to a reduction of 0.78 cents per kilowatt-hour (kWh) before Goods and Services Tax (GST).

For a typical family living in a four-room Housing and Development Board (HDB) flat, this decrease is anticipated to reduce the average monthly electricity bill by S$3 (US$2.30) before GST.

City Energy, a subsidiary of Keppel Corporation, has also confirmed a reduction in gas tariffs, with a decrease of 0.45 cents per kWh, from 23.42 cents to 22.97 cents before GST. Both SP Group and City Energy review tariffs quarterly, following guidelines set by the Energy Market Authority (EMA), the industry regulator.

Rebates and Financial Assistance for Households

In addition to the lower tariffs, more than 950,000 Singaporean households living in HDB flats will benefit from the Utilities-Save (U-Save) and service and conservancy charges (S&CC) rebates in October 2024. These rebates, disbursed quarterly in April, July, October, and January, are part of the permanent GST Voucher (GSTV) scheme, designed to support lower- and middle-income households by offsetting utility and living costs.

The Ministry of Finance (MOF) reiterated that the October rebates would mark the third quarterly disbursement for the 2024 financial year. As part of measures announced in Budget 2024, additional U-Save rebates will be provided to eligible HDB households to help them manage potential increases in utility bills. Depending on the type of flat, eligible households will receive up to S$190 in U-Save rebates in October.

Over the entire financial year, qualifying households are set to receive up to 2.5 times their regular U-Save entitlements, totalling as much as S$950. MOF stated that this assistance could cover about eight months of utility bills for residents of 1- and 2-room HDB flats, and around four months for those residing in 3- and 4-room flats.

Eligible households will also receive up to a month's worth of S&CC rebates in October, with total rebates reaching up to four months over the course of the financial year. These rebates aim to alleviate the cost burdens associated with maintaining common areas in public housing estates.

The U-Save rebates will be automatically credited to households' SP Services utility accounts, while S&CC rebates will be directed into respective Town Council accounts. No additional actions are required by residents to benefit from these rebates.

Households with questions regarding U-Save rebates can reach SP Group via phone at 6671 7117 or visit their website for more details.

Further information on the GSTV scheme, including eligibility and frequently asked questions, is available online.

Residents seeking clarity on S&CC rebates can log into their HDB accounts via My HDBPage on HDB InfoWEB with their Singpass credentials. Queries regarding S&CC payment or account statuses can be addressed directly to the respective Town Councils.