Singapore markets closed
  • Straits Times Index

    3,270.98
    -11.90 (-0.36%)
     
  • Nikkei

    27,999.96
    -249.28 (-0.88%)
     
  • Hang Seng

    20,003.44
    -42.33 (-0.21%)
     
  • FTSE 100

    7,493.57
    +11.20 (+0.15%)
     
  • BTC-USD

    23,077.23
    -1,090.28 (-4.51%)
     
  • CMC Crypto 200

    535.48
    -21.87 (-3.92%)
     
  • S&P 500

    4,125.37
    -14.69 (-0.35%)
     
  • Dow

    32,803.00
    -29.54 (-0.09%)
     
  • Nasdaq

    12,494.35
    -150.11 (-1.19%)
     
  • Gold

    1,810.30
    +5.10 (+0.28%)
     
  • Crude Oil

    91.73
    +0.97 (+1.07%)
     
  • 10-Yr Bond

    2.8010
    +0.0360 (+1.30%)
     
  • FTSE Bursa Malaysia

    1,497.68
    +1.65 (+0.11%)
     
  • Jakarta Composite Index

    7,102.88
    +16.03 (+0.23%)
     
  • PSE Index

    6,468.97
    +34.73 (+0.54%)
     

Singapore electricity, gas tariffs to rise for next 3 months amid global energy crunch

·Senior Reporter
·2-min read
Lighted up gas stove in a household, to illustrate a story on electricity and gas tariffs increasing in the next three months.
Electricity and gas tariffs will increase for the next three months. (PHOTO: Getty Images)

SINGAPORE — Electricity and gas tariffs for the next three months are set to rise due to higher energy costs, announced grid operator SP Group and producer of piped town gas City Energy Thursday (30 June).

The electricity tariff will increase by an average of 8.1 per cent or 2.21 Singapore cents per kilowatthour (kWh) from 1 July to 30 September, compared with the previous quarter.

Energy costs are the biggest component of electricity tariffs, and these are currently driven by the rising global gas and oil prices exacerbated by the Russia-Ukraine conflict.

The energy cost for the coming quarter will increase by 2.06 cents per kWh.

The other three components of the tariff are: network costs, market support services fee, and market administration and power system operation fee.

The increase means that for households, the electricity tariff (before 7 per cent GST) will increase from 27.94 cents per kWh in the previous quarter to 30.17 cents per kWh. The average monthly electricity bill for families living in four-room Housing Board flats, which consumes 370kWh in electricity a month on average, will increase by $8.25 (before GST).

A graph showing the average monthly electricity bill broken down by household type.
There will be an average 8 per cent increase in monthly electricity bills for the next three months. (PHOTO: SP Group)

Data from SP Group show that quarterly household electricity tariffs have been steadily on the rise since a low of 20.76 cents per kWh in the first quarter of last year.

Increase in electricity tariffs from 1 July to 30 September 2022. (PHOTO: SP Group)
Increase in electricity tariffs from 1 July to 30 September 2022. (PHOTO: SP Group)

Meanwhile, due to increased fuel costs, the gas tariff will increase by 1.43 cents per kWh (before GST) in the same period, from 21.66 cents per kWh in the previous quarter to 23.09 cents per kWh in the coming quarter.

Gas tariffs have been climbing since the last quarter of 2020, when the tariff increased from 16.36 cents per kWh to 17.19kWh (before GST) in the months of October to December. The previous quarter of July to September 2020 registered the last drop in tariff from 17.11 cents per kWh to 16.36 cents per kWh.

SP Group and City Energy review the electricity and gas tariffs every quarter based on guidelines set by industry regulator Energy Market Authority.

Even prior to the Russia-Ukraine conflict, the Singapore government last year had warned about the inevitable increase in prices locally, as global energy prices have soared in what it has described as the "unprecedented storm in the global energy market".

Stay in the know on-the-go: Join Yahoo Singapore's Telegram channel at http://t.me/YahooSingapore

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting