SP Services has announced that for the period from 1 Jul to 30 Sep 2016, electricity tariffs will increase by an average of 9.2% or 1.59 cents per kWh compared to the previous quarter. It explained that the increase is largely due to the cost of natural gas for electricity generation, which rose by 26.0% compared to second quarter 2016.
Lower non-fuel costs which only partiality offset the higher costs, and the increase in Market Support Services fee to meet higher market system and development costs, are other reasons SP Services used to justify the increase.
The electricity industry regulator, Energy Market Authority (EMA), has approved the electricity tariffs increase by SP Services.
For households, the electricity tariff will increase from 17.68 to 19.27 cents per
kWh for 1 Jul to 30 Sep 2016. The average monthly electricity bill for families living in
four-room HDB flats will increase by $6.79.
