The electricity tariffs from Oct to Dec 2023 is set to increase, reflecting higher energy costs from the previous quarter.
Households in Singapore will see their electricity bills increase by an average of 3.7%, translating to about 0.98 cents per kilowatt hour (kWh).
SP Group announced the increase in electricity tariffs for Q4 2023 on Friday (29 Sep).
From Oct to Dec 2023, electricity tariffs will increase from the current rate of 27.74 cents per kWh to 28.70 cents per kWh, before GST.
The increase is reportedly reflective of “higher energy costs” in comparison to the previous quarter.
Here’s a look at how the electricity tariff has fluctuated since Jan 2022:
Source: SP Group
The increase in tariff is part of the quarterly adjustments to Power Generation Costs — one of the four non-fuel costs components that make up the electricity tariff.
SP Group said that with the increase, families living in four-room HDB flats will see their monthly electricity bills increase by an average of S$3.57, before GST.
The electricity and gas distribution company also estimates that households across the board will see a 3.5% increase in their monthly electricity bill.
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Featured image adapted from MarPa87 on Flickr.
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