Electricity tariffs up almost 9% from July

Electricity tariffs up almost 9% from July

By Foo Siew Shyan, Channel NewsAsia | Posted: 15 June 2007 1615 hrs

SINGAPORE: Electricity tariffs for the next three months (Jul-Sep) will go up by almost nine per cent (8.83%).

This is an increase of about 1.6 cents per kilowatt per hour of electricity.

SP Services attributes the hike to higher fuel oil prices, which had gone up by about 20 per cent compared to the current quarter.

The latest tariff increase comes after two downward revisions since the start of this year.

The next revision, which is done quarterly, will be for the months of October to December. - CNA/yy

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And it was raised last year too!

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Electricity tariff to go up by 2.3% next quarter

By Wong Siew Ying, Channel NewsAsia | Posted: 27 September 2006 2039 hrs

SINGAPORE : Electricity tariffs will go up by an average of 2.3 percent or 0.49 cents per KWh (kilo-watt hour) between October 1 and December 31 this year.

SP Services explains that electricity price is pegged to the forward price of fuel, which is higher for the next quarter at $88.52 per barrel, compared to $87.49 per barrel previously.

Fuel cost makes up 55 percent of the cost of electricity.

The tariffs are reviewed every quarter and adjusted in line with fluctuation of fuel oil prices.

The tariff adjustments have been approved by industry regulator Energy Market Authority.

The next review will be in December.

- CNA /ls