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Singapore electricity and gas tariffs to decrease in Q2 2024, water prices up from 1 April

Singapore electricity provider SP Group and piped town gas provider City Energy said that the decreases are due to lower energy costs.

Esther Au Yong
·Finance Editor
Updated ·2-min read
Lightning strikes over HDB apartments in Jurong West in Singapore, illustrating a story on decreasing electricity tariffs.
Singapore electricity and gas tariffs to decrease in Q2 2024, and water prices to go up from 1 April. (PHOTO: Getty) (kokkai via Getty Images)

SINGAPORE — Electricity and gas tariffs in Singapore are set to decrease for the second quarter of 2024, from 1 April to 30 June.

In an announcement on Thursday (28 March), electricity provider SP Group said that the electricity tariff (before Goods and Services Tax (GST)) for households will decrease by 0.3 per cent, or 0.10 cent per kWh, compared with the previous quarter due to lower energy costs. The tariff will thus be set at 29.79 cents per kWh in the second quarter.

This means, SP Group added, that the average monthly electricity bill for families living in HDB four-room flats will decrease by S$0.33 (before GST).

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Meanwhile, City Energy, Singapore's provider of piped town gas, said that the gas tariff (before GST) for households will decrease by 0.03 cent per kilowatt hour (kWh), from 23.15 cents per kWh to 23.12 cents per kWh – also due to lower costs when compared with the previous quarter.

Electricity and gas tariffs are reviewed by SP Group and City Energy every quarter, based on guidelines set by the Energy Market Authority (EMA).

Currently, electricity and gas tariffs for Singapore households are set 29.89 cents per kWh and 23.15 cents per kWh respectively.

Increase in water prices from 1 April 2024

The first of two price increases for water is set to take place on Monday, when water rates will rise by 20 cents per cubic m. The price of water will increase further a year later by 30 cents per cubic m.

Singapore's national water agency PUB had announced in September 2023 that the water price hike will be introduced in two phases – on 1 April 2024 and 1 April 2025 – to reflect the rising costs of producing and supplying water.

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