A ‘small cutback’ is better than ‘no-cutback?

The cost of electricity will go down by 4.7% in the next three months. This seemingly good news was announced by the SP Group, the government-owned electricity and gas distribution company of Singapore.

What does this mean to the average Singaporean? It means that households will now be paying 22.79 cents per kWh from April 1 to June 30 from 23.85 cents per kWh. It also means that families will be paying S$3.62 less on their average monthly electricity bill especially for those who live in four-room HB flats.

Singaporeans have expressed mixed reactions about this reduction. Some welcomed the decrease, some are skeptical, a few have speculations, and the rest are adopting a ‘lets-wait-and-see’ attitude.

Nadarajan Chidambaram says, “Wow! Nice to c the decrease.” But added, “Hmmmm, lets prepare for the worse to come in near future.”

KS Lim is not fast to either feel happy or sad but thinking and said, “Well, SP said price reduces is due to the lower cost of natural gas is just part of the reasons, (sic) the other main reason is also due to pressure from the new electric retailers, they need go to lower before more household switch away from SP.(sic) Anyway 22.79 cents per kWh is still way above other retailers. I am still waiting how low SP can go before I stop to consider whether to switch.”

Some are skeptical like Tommie Vale who said, “Now cheaper only. (sic) Later price will increase for sure. Nobody runs a non-profit company.” While others are a little bit confused such as Foong Mun Loh who commented, “Water up 30%……electricity down <30%…….they still profit more……the whole point is to transfer some profit to GLCs like Singtel, Sembcorp, Keppel, etc…….”

There are those who are just angry about anything and everything that while they are aware of the electricity cost reduction, they still think that nothing is helping Singaporeans. An example is Chia Leckmeng who remarked, “Justin Lee Whther Can Chun Seng or another Minister becomes the Trad and Industry Minister, electricity rate will not be cheaper. All the ministers/MPs are from the PAY AND PAY ruling party. So ordinary Singaporeans will have to PAY AND PAY. Where as they can have millions S$$$ salaried.” (sic)

But as the saying goes, ‘something is better than nothing,’ so perhaps, this is something that Singaporeans should be thankful about.