Singapore residential building, also known as HDB

SINGAPORE: Over 950,000 households living in Housing Board (HDB) flats will receive U-Save and service and conservancy charges (S&CC) rebates this July. This initiative comes as gas and electricity prices are set to increase.

The Ministry of Finance (MOF) announced on June 28 that the rebates are part of the second quarterly disbursement for the 2024 financial year under the permanent GST Voucher (GSTV) scheme and the Assurance Package.

This scheme received an additional S$1.9 billion boost in Budget 2024. The goal of these rebates is to help lower- and middle-income households manage their living costs.

The Straits Times reported that households in one-room and two-room HDB flats will receive S$285 in U-Save rebates. Those in three-room flats will receive S$255, while families in four-room flats will get S$225.

Five-room flats will receive S$195, and executive or multi-generation flats will receive S$165.

These rebates are crucial as they will help offset the price increases for gas and electricity from July to September. On June 28, City Energy, the producer and retailer of piped gas, along with grid operator SP Group, announced these changes. 

Electricity tariffs will rise by 0.3% compared to the previous quarter, resulting in 29.88 cents per kilowatt-hour (kWh) tariff for households before goods and services tax (GST), up from 29.79 cents.

Despite the increase, this is still one cent lower than the tariff in the first quarter of 2024. SP Group attributes the hike to increased energy costs.

For a family living in a four-room HDB flat, the new tariff will mean an increase of 35 cents in the monthly electricity bill before GST, rising from S$118.03 to S$118.38.

Gas tariffs will also see a rise of 0.3 cents per kWh, with households paying 23.42 cents per kWh before GST, up from 23.12 cents. Including GST, the revised tariff amounts to 25.53 cents.

In terms of S&CC rebates, residents of one-room and two-room flats will receive a one-month rebate, while all other households will get a half-month rebate.

Households do not need to take any action to receive these rebates. The U-Save rebates will be directly credited to households’ utilities accounts with SP Services, and the S&CC rebates will be credited directly by town councils. /TISG

Read also: More CDC vouchers released with cash payouts coming in September and December 2024

Featured image by Depositphotos