SINGAPORE — Electricity tariffs will be lower for the October to December period compared with the previous quarter, SP Group said on Friday (Sept 30) after six consecutive quarters of increase.
For the period from Oct 1 to Dec 31, electricity tariffs, excluding goods and services tax will decrease by an average of 1.4 per cent or 0.42 cent per kWh compared with the previous quarter, said SP Group in a news release.The electricity tariff for households will decrease from 30.17 to 29.74 cents per kWh, excluding GST, for the quarter ending Dec 31.
Last quarter, electricity tariffs went up by an average of 8.1 per cent, mainly due to higher energy costs driven by rising global gas and oil prices exacerbated by the conflict in Ukraine. The electricity tariff consists of four components — energy costs paid to the generation companies, network costs and market support services fees paid to SP Group, as well as market administration and power system operation fees paid to the energy market company and power system operator.
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