Electricity Tariffs To Increase By 3.2% From 1 Oct 2021
During the 3rd quarter of 2021, Singapore’s electricity tariffs increased by 3.8% due to the rise in fuel costs.
Once again, SP Group shared that it will further increase for the 4th quarter, this time by an average of 3.2%.
SP Group explained in their press release that the increase is due to the higher fuel costs required to produce electricity.
Higher fuel costs cause electricity tariffs to rise in Q4
SP Group shared information regarding the Q4 electricity tariff revision on Thursday (30 Sep).
In the media release, they explained that monthly electricity bills will increase by an average of 3.2% or 0.73 cents per kWh due to a higher cost of fuel for producing electricity by the power generation companies.
Excluding Goods and Services Tax (GST), Singapore’s electricity tariffs will increase from 23.38 to 24.11 cents per kWh, from 1 Oct till 31 Dec.
Household electricity bills to rise by average $3.11 monthly
Since SP Group reviews the electricity tariffs every quarter, the projected charges for different households this time will be different too.
According to their press release, the monthly bills across all household types will increase by $3.11 on average from 1 Oct to 31 Dec.
But changes will vary depending on the sizes of the households. 1-room HDB flats may record only a $1.12 monthly increase while executive flats may record a $4.04 increase.
Monitor your electricity consumption till EOY
With electricity bills rising, perhaps it’s high time to monitor our monthly consumption to avoid racking up hefty bills.
Hopefully, work-from-home (WFH) arrangements will be lighter in due time too so we can adapt accordingly.
Looking ahead, we hope that the tariffs will also decrease in the subsequent quarterly review.
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Featured image adapted from Jiachen Lin on Unsplash.