Electricity tariff to rise by 4.3% in the next three months

Not a good weekend ahead as consumers could expect $4.18 increase to electricity bill beginning this Sunday, April 1.

According to SP Services, for the period from 1 Apr to 30 Jun 2012 the electricity tariffs will increase by
4.3% as higher fuel prices have resulted in higher power generation costs.

The average fuel oil price over the last three months (1 Jan to 15 Mar 2012) increased by 7.3% from S$127.07 to S$136.37 per barrel.

“This increase in fuel oil prices saw a corresponding increase in the price of natural gas which is used for power generation in Singapore,” it said.

“ The electricity tariff for households will increase by 4.3% (or 1.19 cents per kWh) from 27.59 to 28.78 cents per kWh. This will increase the average monthly electricity bill for families living in four-room HDB flats by $4.18,” it added.

SP Services reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA), the electricity industry regulator. The latest tariffs have been approved by the EMA.