Electricity tariffs for S’pore households will fall by 0.3% from April to June 2024

Electricity tariffs to fall from April to June 2024 after 3 consecutive rounds of increases

Electricity tariffs will decrease by 0.3%, or about 0.10 cents per kWh from April to June 2024.

SP Group said that this is due to lower energy costs compared to previous quarters.

This is the first time electricity tariffs have come down after three consecutive rounds of increases.

Households to pay 29.79 cents per kWh for electricity tariffs from April 2024

SP Group announced the decreased electricity tariffs via a media release on Thursday (27 March).

From 1 April to 30 June, electricity tariffs will decrease by 0.3%, or 0.10 cent per kWh, from the previous quarter.

With the revised rates, households in Singapore will pay 29.79 cents per kWh.

SP Group estimated that the lower electricity tariffs will translate to savings averaging S$0.33 for families living in four-room HDB flats.

Source: SP Group

Meanwhile, those staying in bungalows will see their monthly electricity bills fall by S$1.95 on average.

First decrease after 3 consecutive rounds of tariff increases

SP Group explained that the lower tariffs are due to “lower energy costs” compared to previous quarters.

The fall comes after three consecutive rounds of tariff increases since last July.

Source: SP Group

SP Group attributed the previous increases to higher energy costs.

Also read: S’pore Electricity Tariffs To Climb By 4.1% From Jan To Mar 2024, Third Consecutive Quarter Of Increases

S’pore Electricity Tariffs To Climb By 4.1% From Jan To Mar 2024, Third Consecutive Quarter Of Increases

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Featured image adapted from ChinHooi on Canva.