International Business & Economy Average monthly electricity bill for all households set to increase in the...

Average monthly electricity bill for all households set to increase in the new year

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For the period from 1 Jan to 31 Mar 2017, electricity tariffs will increase by an average of 5.7% or 1.07 cents per kWh compared to the previous quarter. The tariff increase is due to the higher cost of natural gas for electricity generation, which increased by 10.6% compared to the previous quarter.

For households, the electricity tariff will increase from 19.13 to 20.20 cents per kWh for 1 Jan to 31 Mar 2017. The average monthly electricity bill for families living in four-room HDB flats will increase by $4.30.

2The electricity tariff consists of the following four components:

  • Energy costs (paid to the generation companies): This component is adjusted quarterly to reflect changes in the cost of power generation.
  • Network costs (paid to SP PowerAssets): This fee is reviewed annually.
  • Market Support Services Fee (paid to SP Services): This fee is reviewed annually.
  • Market Administration and Power System Operation Fee (paid to Energy Market Company and Power System Operator): This fee is reviewed annually to recover the costs of operating the electricity wholesale market and power system.

3

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SP Services reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA), the electricity industry regulator.Follow us on Social Media

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