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Electricity tariff hikes trend


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haha in Shenzhen those spa centres i heard of pple who really go to the extend to paying the entrance fee for using their spa facilities and spending 1 whole night @ only less than S$60. Maciam hotel liddat, free flow of F & B as well....

 

In Taiwan also. Some ppl will stay at the HC overnight instead of a hotel. [laugh]

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Was just thinking, now that our power stations will soon belong to other people, wouldn't that mean that, potentially, our electricity could also be turned off at will by the new owners?

 

Skali in times of emergency like war (touch wood), the foreign owners may make a dash at the door and "switch off the lights"? just like our water can also be turned off too? Then at the 'flick of a switch', all our hi-tech 3G army that's so dependent on electricity becomes 0G liao.

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Neutral Newbie

Oct 4, 2008

FUEL OIL, NATURAL GAS AND ELECTRICITY CHARGES

EMA explains spike

I REFER to Wednesday's letters ('Tariff hike goes against common sense' and 'Power Points') on the revision in the electricity tariff, and would like to clarify how the Energy Market Authority regulates the tariff proposed by SP Services. Singapore imports all the fuel we need for power generation and the electricity tariff must reflect this cost. Indeed, the cost of fuel accounts for about 60 per cent of the electricity tariff.

While 80 per cent of our electricity is generated using natural gas, the price of this gas is tied by long-term contracts to the fuel oil price. This is the market practice in Asia where fuel oil is the substitute fuel source to gas, and sets a natural benchmark for gas pricing.

 

The electricity tariff in Singapore is therefore pegged to the fuel oil price. If the fuel oil price goes up, the electricity tariff will be increased. Likewise, if there is a reduction in the fuel oil price, the electricity tariff will be reduced accordingly, as happened in two consecutive quarters last year.

 

To provide certainty in pricing, the electricity tariff is set in advance for a three-month period based on the three-month forward fuel oil price. For example, the forward fuel oil price quoted last July for delivery between this month and December will determine the tariff for this period.

 

As the fuel oil price increased sharply in July this year, there was a corresponding spike in the July forward fuel oil price for this month until December. This is why we are experiencing a sharp increase in the electricity tariff now. Recently, the fuel oil price has started to come down. If the downward trend continues this month, we can expect a reduction in the electricity tariff for the first quarter of next year.

 

The increase in the electricity tariff has nothing to do with the recent Formula One event. The F1 organisers brought in their own generators and equipment for the race. The electricity tariff was not used to pay for the costs of lighting the F1 circuit.

 

The increase in tariff is also not linked to the privatisation of the electricity industry. On the contrary, the privatisation process has helped to promote greater competition and drive efficiency gains in the power generation companies. This has brought real benefits to all consumers. Despite the substantial rise in fuel oil price over the years, the increase in electricity tariff has been much smaller in comparison. Our electricity price would have been much higher had it not been for competition.

 

Jenny Teo (Ms)

Director, Corporate Communications

Energy Market Authority (EMA)

 

http://www.straitstimes.com/ST%2BForum/Sto...ory_285633.html

 

Wonder EMA replied on behalf on SP? haiz. [furious]

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u know how much energy is needed to heat up 15 litre of water from say 25 degC to 80 or 85 degC ? [sweatdrop]

 

yeah.. but that water stays hot for quite a while. not say bathe once a week right? haha

 

of course, if there is no need, best to use gas or instant heater. [thumbsup]

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how do they estimate the forward fuel price at $155 per barrel. the whole world is seeing that fuel price will drop in view of credit crunch resulting USA and EUROPE slowing down and actually CRASH LANDING. if crude oil drop below $80 and they pegged the price at $155, will they give us 50% rebate after that ? [sly]

 

For the period from October 1 to December 31, tariffs have been pegged to a higher "forward fuel oil price" of S$155.14 per barrel.
Edited by Wt_know
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they will tell you now they use natural gas to gen elect.

 

When crude shoots up, they will say elect price pegs on crude.

[smallcry]

Crude oil at ~$30, how much will our electricity going to drop?

 

Edited by Kangadrool
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Electricity prices to rise 6.1% for next 3 months

 

SINGAPORE: Electricity tariffs will rise by an average of 6.1 per cent for the next three months, SP Group said on Friday (Mar 31).

 

For households, the electricity tariff will increase from 20.20 to 21.39 cents per kWh for Apr 1 to Jun 30. This means that the average monthly electricity bill for families living in four-room HDB flats will increase by S$4.21, SP Group said.

 

“The increase is largely due to the cost of natural gas for electricity generation, which increased by 12 per cent compared to the previous quarter,” it said.

 

SP Group reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA), the electricity industry regulator. The latest tariffs have been approved by the EMA.

 

What the heck? water 30%. Electricity 6%. They say natural gas cost increase.... real or not?

Anyone in the industry? I remember got some people on here asking for advise on being an energy trader some years ago...

 

Is LNG the same as natural gas? Prices are strongly related? I managed to find this.

 

post-27068-0-40492100-1490957926_thumb.jpgpost-27068-0-50697900-1490957933_thumb.jpg

 

Don't see any increase over the past 3 months...

Edited by Kusje
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What the heck? water 30%. Electricity 6%. They say natural gas cost increase.... real or not?

Anyone in the industry? I remember got some people on here asking for advise on being an energy trader some years ago...

 

Is LNG the same as natural gas? Prices are strongly related? I managed to find this.

 

attachicon.gif1.JPGattachicon.gif2.JPG

 

Don't see any increase over the past 3 months...

LNG cost increase is true.

 

but got any 1 check how much is SP profit last year.

the money they make, even cost up 50%, they still making money.

 

http://www.mycarforum.com/topic/2700120-next-sg-presidential-election-201617/

why u think this happen

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What the heck? water 30%. Electricity 6%. They say natural gas cost increase.... real or not?

 

Anyone in the industry? I remember got some people on here asking for advise on being an energy trader some years ago...

 

Is LNG the same as natural gas? Prices are strongly related? I managed to find this.

 

attachicon.gif1.JPGattachicon.gif2.JPG

 

Don't see any increase over the past 3 months...

Song bo ?

 

Screwed from the front, back, left, right, up, down and center. Ha ha

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I think they just changed logo, hence costs in printing new envelops and letterheads increased. Old ones have to be written off but conveniently passed it to you. [laugh]

Edited by Kangadrool
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Hypersonic

What the heck? water 30%. Electricity 6%. They say natural gas cost increase.... real or not?

 

Anyone in the industry? I remember got some people on here asking for advise on being an energy trader some years ago...

 

Is LNG the same as natural gas? Prices are strongly related? I managed to find this.

 

1.JPG 2.JPG

 

Don't see any increase over the past 3 months...

lng is ng in liquid form lah

 

correlate simi?

 

 

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Hypersonic

Then where got increase...

if i m not wrong, the ng price used to make electricity is formula based on crude and not spot lng prices which you have shown

 

you may want to take a look at crude prices first...then see got grounds to complain bo?

 

 

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Twincharged

What the heck? water 30%. Electricity 6%. They say natural gas cost increase.... real or not?

 

Don't see any increase over the past 3 months...

 

i wish .... this is april fools joke ? !

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