SINGAPORE — The electricity tariff for the first quarter of 2022 will increase by an average of 5.6 per cent for households in Singapore compared with the previous quarter due to higher fuel costs, SP Group said on Thursday (30 December).
The revision by 1.33 cents per kWh on average for 1 January to 31 March 2022 was the fourth consecutive quarterly increase.
As such, the tariff – before 7 per cent GST – will increase from 24.11 to 25.44 cents per kWh next quarter.
Around 95 per cent of Singapore’s electricity is generated using imported natural gas at prices based on oil prices, SP said.
“Over the past few months, a confluence of recovering economic activity, severe weather events, and a series of gas production outages have sent global energy market prices significantly higher. These factors have raised electricity prices in many markets.”
The average monthly electricity bill for families living in HDB one-room flats will increase by $1.92 while those in HDB executive flats will see a rise by $6.59 – both before GST.
SP Group reviews the electricity tariffs every quarter based on guidelines set by the Energy Market Authority.
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