Home News Featured News Electricity tariffs will be hiked yet again between April and June, just...

Electricity tariffs will be hiked yet again between April and June, just months after last increase

- Advertisement -

SP Group announced yesterday that electricity tariffs will rise by an average of 2.8 per cent (0.59 cents per kilowatt hour) from 1 April to 30 June this year. This hike comes after tariffs were raised by an average of 6.3 per cent between January and March 2018, which – at the time – were the highest tariffs imposed since 2015.

Government-linked SP Group explained that this latest electricity tariffs increase will be implemented mainly due to the higher energy cost of producing electricity. In December last year, the group gave a similar reason to explain the tariffs hike between Jan-Mar 2018 when it said that the increase was due to the higher cost of natural gas for electricity generation.

In the same quarter last year, April to June 2017, SP Group hiked electricity tariffs by an average of 6.1 percent compared to the previous quarter.

In the next quarter, July to September 2017, tariffs decreased by an average of 3.2 per cent and in the final quarter of 2017, tariffs went down by an average of 2.1 per cent. SP Group pointed to a lower cost of natural gas for electricity generation and lower non-fuel costs.

- Advertisement 1-

Despite these reductions, the tariffs have increased by a sizeable 9.9 per cent in just one year.

News of the electricity tariffs hikes over the past year come as the Government announced that water prices will be increased by a whopping 30 per cent during Budget 2017 and even as Singaporeans expect the Goods and Services Tax (GST) to rise by 2 per cent in the coming years, following confirmation by the Government during this year’s Budget.

Meanwhile, SP Group – which is wholly owned by sovereign wealth fund Temasek Holdings – made a net profit of $948.8 million after tax in the last financial year, ending 31 Mar 2017:

Follow us on Social Media

Send in your scoops to news@theindependent.sg 

- Advertisement -

Read More

Singapore cancels news site’s license, critics cry intimidation

A Singaporean news website often critical of the government had its licence cancelled Friday for failing to declare funding sources, with the editor slamming it as "harassment and intimidation" of independent media. The Online Citizen (TOC)had long been in the...

Pritam Singh talks to students & parents who joined WP’s free bursary program pilot

Singapore — Workers’ Party chief and Leader of the Opposition Pritam Singh wrote in an Oct 17 (Sunday) Facebook post that he had spoken...

Goh Chok Tong’s FB posts get more and more cryptic

Singapore ― Since retiring from politics last year, Goh Chok Tong has shared snapshots of his life on social media, often doling out bits...

Singapore has become ‘addicted to large quantities of S-Pass workers’ — former GIC Chief Economist

Singapore — Speaking at the Progress Singapore Party’s Beyond the Jobs Debate Forum, former GIC Chief Economist, Yeoh Lam Keong said that one reason...

Migrant worker calls out Tan See Leng for slave-like conditions in Jurong dorm, says, “Please do not call us ‘your brothers’ “

Singapore ― Frustrated with Minister for Manpower Tan See Leng's pretence of care, and the poor conditions at a foreign worker dormitory in Jurong,...
- Advertisement -
Follow us on Social Media

Send in your scoops to news@theindependent.sg