by Leong Sze Hian/
On 30 Dec, the Straits Times reported that the Electricity tariffs will go up in the next three months. The report said: “Households will pay more for electricity in the new year, with tariffs rising by an average of 6.3 per cent.”
According to Singapore Power’s annual report 2016/2017 – its profit for the year ended 31 March 2017 was $948.8 million. This is an increase of 2.7 per cent over the previous year’s $923.5 million. Singapore PowerAssets’ profit was $433.6 million.
The annual reports of Singapore Power and Singapore PowerAssets for 2014/2015 showed that their combined profits for the year was $1.5893 billion. That was an increase of $197.2 million or 14.2 per cent over 2013/2014’s combined profits of $1.3921 billion.
What about the profits of the power generating companies – some of which have been sold to foreign companies? So, in totality – how much profits are being made from providing electricity to the people?
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