SINGAPORE: Singapore’s electricity tariff is due to fall by an average of 3.2 per cent or 0.67 Singapore cent per kilowatt-hour (kWh), notwithstanding 7 per cent goods and service tax (GST), for the first quarter of 2021.
The downward revision is due to lower energy costs compared to the previous quarter, says SP Group in a Wednesday press statement, report agencies.From Jan 1 to March 31, 2021, households will see a decline in the electricity tariff to 20.76 Singapore cents from 21.43 cents per kWh, excluding 7 per cent GST. Including GST, the new electricity tariff rate for households will be 22.21 cents per kWh.
SP Group estimates that the lower electricity tariff translates to an average of 3.1 per cent in electricity bill savings for domestic customers living in all types of property. According to the Singapore national utility, this will amount to S$2.39 in savings, excluding GST, in the average monthly electricity bill for families living in four-room Housing Development Board flats.
Separately, City Gas has announced an increase in the gas tariff for households for the first quarter of 2021 by 0.04 cent per kWh. This will raise the gas tariff for the quarter to 17.23 cents per kWh from 17.19 cents previously, notwithstanding GST. Including GST, the general gas tariff will be 18.44 cents per kWh.
In its press statement issued on Wednesday, the town gas producer and distributor attributes the tariff hike to increased fuel costs compared with the previous quarter.
SP Group and City Gas review tariffs for electricity and gas, respectively, based on guidelines set by industry regulator Energy Market Authority (EMA). EMA has approved both entities’ revised tariff rates for the first quarter of 2021.