Electricity tariffs will reduce by an average of eight percent or 1.99 cents per kWh from 1 Jan to 31 Mar 2015, compared to the previous quarter.
“The tariff reduction is due to lower cost of fuel (i.e. natural gas) for electricity generation, which fell by 16.4 percent compared to the previous quarter. As fuel cost makes up about 50 percent of the tariff, this translates to a proportional reduction of eight percent in the Q1 2015 electricity tariff,” SP Services said in a statement on 30 December 2014.
The electricity tariff for households will decrease from 25.28 to 23.29 cents per kWh for 1 January to 31 March 2015. The average monthly electricity bill for households living in four-room HDB flats will decrease by $7.93.
The electricity tariffs are reviewed quarterly based on guidelines set by the Energy Market Authority (EMA), and the tariffs shown here have been approved by EMA.
Singapore Power Group (SP) owns and operates electricity and gas transmission and distribution businesses in Singapore.
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
