S’pore Electricity Tariffs Will Rise By 5.6%, Average $4.70 Monthly Increase For 4-Room Flats

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1.33 Cents Per kWh Increase For 1Q Due To Higher Fuel Costs

During the 4th quarter of 2021, Singapore’s electrical energy tariffs rose by 3.2%.

This adopted a 3.8% enhance within the third quarter of the 12 months.

So for the approaching 1st quarter of 2022, you’d in all probability have guess it – electrical energy tariffs will rise but once more, this time by 5.6%.

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For households dwelling in 4-room HDB flats, their common month-to-month invoice will go up by $4.70.

Higher costs from 1 Jan-31 Mar

In a press release on Thursday (30 Dec), SP Group mentioned the upper costs will take impact from 1 Jan-31 Mar subsequent 12 months.

They’ll rise a median of 5.6%, or 1.33 cents per kWh, in contrast with 4Q 2021.

This interprets for households to a rise from 24.11 to 25.44 cents per kWh throughout the interval, earlier than bearing in mind the 7% Goods & Services Tax (GST).

This extends a gradual quarterly rise in electrical energy tariffs from the first 3 months of this 12 months.

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Increase as a result of larger gas prices

As for the explanation behind the rise, SP Group gave a well-known motive: Higher gas prices.

The important spike in international power market costs is owing to a confluence of things over the previous few months which have despatched costs in lots of markets up, together with:

Recovering financial exercise
extreme climate occasions
a sequence of gasoline manufacturing outages

About 95% of Singapore’s electrical energy is generated utilizing imported pure gasoline at costs listed to grease costs, the corporate added.

Projected tariff adjustments

SP Group evaluations the electrical energy tariffs each quarter primarily based on tips set by the Energy Market Authority (EMA), which regulates the business.

Hence, they’ve launched the next projected tariff adjustments for various households with EMA’s approval:

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For instance, a family in a 4-room flat can count on a $4.70 common enhance of their month-to-month invoice, whereas these dwelling in a bungalow can have a rise of $29.08.

For extra data and a breakdown what the parts of the electrical energy tariff are, take a look at SP Group.

No higher time to return to workplace

Now that we’ve knowledgeable upfront, do be conscious of your electrical energy consumption if you happen to don’t need a massive shock on the finish of the month.

At least now with 50% of workers with the ability to return to workplaces from 1 Jan, maybe it’s for the very best so we are able to lower down on our house electrical energy utilization.

Hopefully, the 2nd quarter of 2022 will see a long-awaited lower in electrical energy tariffs.

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Featured picture tailored from Mike Enerio at Unsplash.

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