Household electricity tariff to decrease by 2.6% from 1 Oct to 31 Dec: SP Group

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Electricity tariff in Singaporean households will decrease by 2.6% during last quarter of 2024

Singaporean households can expect a decrease in electricity tariff for the final quarter of 2024.

According to a media release by SP Group, the electricity bills for households will see a significant decrease of 2.6%, translating to a reduction of 0.78 cents per kWh compared to the previous quarter.

This decrease will be effective from 1 Oct to 31 Dec.

Source: SP Group

Households to pay 29.10 cents per kWh from 1 Oct

SP Group announced the decrease in electricity bills on Monday (30 Sept).

Households in Singapore can expect to pay an average of 29.10 cents per kWh (before GST), as compared to the current tariff of 29.88 cents per kWh.

This adjustment is attributed to declining energy costs and will result in an average monthly savings of $3 (before GST) for families residing in a four-room HDB flat.

Meanwhile, those staying in bungalows will see a S$16.54 decrease in their average monthly electricity bills.

Household and non-household electricity tariffs will drop by 2.5%

Overall, electricity tariffs for both households and non-households will drop by an average of 2.5%, or approximately 0.70 cents per kWh.

This is the second consecutive decrease in electricity bills.

The previous quarter from April to June saw a drop in electricity tariff by 0.3%, also attributed to lower energy costs.

Source: SP Group

SP Group, which oversees these tariffs, conducts quarterly reviews based on the guidelines set by the Energy Market Authority (EMA). These regular revisions account for fluctuations in global fuel prices, thereby ensuring that tariffs accurately reflect current energy costs.

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