SINGAPORE: Singapore’s grid operator SP Group announced on Monday (Dec 30) that for the first three months of next year, the electricity tariff (before GST) for households will decrease by 3.4 per cent or 0.98 cents per kilowatt hour in comparison with the previous quarter.
Meanwhile, gas tariffs will also decrease in the first quarter of next year. This was announced by City Energy, which is the producer and retailer of piped gas in Singapore.
Gas tariffs, before the 9 per cent GST is applied, will go down by 0.25 cents per kilowatt hour, from 22.97 cents per kilowatt hour to 22.72 cents per kilowatt hour for the period from Jan 1 to Mar 31, 2025.
The lower electricity and gas tariffs are due to lower fuel costs than the previous quarter. This means that the average monthly electricity bill for a family that lives in a four-room Housing and Development Board (HDB) flat will go down by $3.58 before GST.
SP Group also provided a table showing the average monthly electricity bill for households. For example, the previous average monthly bill for a one-room HDB flat was $41.38, and the new average monthly bill was $39.99.
For a three-room flat, it was previously $77.50, while the new average is $74.89. And for a five-room flat, the previous average was $124.80, while the new average monthly bill is $120.60.
Every quarter, electricity tariffs are reviewed by the SP Group based on guidelines set by the Energy Market Authority (EMA), the city-state’s electricity industry regulator.
Similarly, gas tariffs are reviewed by City Energy every quarter based on guidelines set by the EMA, the gas industry regulator. Volatile global fuel prices may cause electricity and gas tariffs to fluctuate from quarter to quarter.
SP Group explained that the electricity tariff consists of the following four components: energy costs, network costs, a market support services fee, and a market administration and power system operation fee.
The network costs and the market support services fee are paid to SP Group, while the market administration and power system operation fee is paid to the Energy Market Company and Power System Operator.
Here are the revised gas tariffs, inclusive of 9 per cent GST, approved by EMA:
/TISG