Source: ChinHooi on Canva
Singaporean households can expect electricity and gas prices to drop from Jan to Mar 2025.
This is reportedly due to declining energy and fuel costs.
In a press release, SP Group announced on 30 Dec that electricity tariffs for customers supplied by the grid operator will decrease by 3.4 percent over the next three months compared to the previous quarter.
For households, the tariff will be 28.12 cents per kilowatt-hour (kWh) before goods and services tax (GST), a decrease from the current rate of 29.10 cents.
For instance, an average five-room HDB household could experience a S$4.20 reduction in its monthly electricity bill before GST.
Source: SP Group
The electricity tariff is determined based on four components. This includes the cost of energy, which factors in the price of imported natural gas, and the operational costs of power stations, among other elements.
In a separate statement on 30 Dec, City Energy, the provider of piped gas, revealed that the gas tariff will drop to 22.72 cents per kWh before GST for Q1 next year, compared to 22.97 cents for this quarter.
Both operators stated that tariffs will vary each quarter based on global fuel price trends.
Also read: Household electricity tariff to decrease by 2.6% from 1 Oct to 31 Dec: SP Group
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Featured image adapted from ChinHooi on Canva for illustration purposes only.
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