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Electricity tariff to fall next quarter after rising to near 5-year high

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Electricity tariff to fall next quarter after rising to near 5-year high

Source: https://www.channelnewsasia.com/news/singapore/electricity-tariff-costs-sp-group-october-december-2019-11955214

electricity-bill.jpg

SINGAPORE: The electricity tariff for households will fall for the October to December period after it rose to a near five-year high in the previous quarter.

The tariff will decrease by an average of 3.3 per cent, or 0.79 cent per kilowatt hour (kWh), compared to the previous quarter. This is mainly due to the lower cost of natural gas for electricity generation, SP Group said on Monday (Sep 30).

For households, the electricity tariff will decrease from 24.22 cents to 23.43 cents per kWh, excluding Goods and Services Tax (GST), from Oct 1 to Dec 31. This means that the average monthly electricity bill for families living in four-room Housing Board flats will decrease by S$2.84, SP Group said.

electricity-tariff-oct-dec-2019.jpg

The rate of 24.22 cents in the July to September period was a 6.4 per cent increase from the preceding quarter and the highest rate since 2014. SP Group said then that the increase was due to the higher cost of natural gas.

SP Group reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority, the electricity industry regulator.

Source: CNA/cy(mi)

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Hmm... if the Saudi Iran thingy doesn't improve,  oil prices rocket... sure have effect. 

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3 minutes ago, Tkseah said:

Election coming 😋

Yeah I second that..erection cuming....no choice...

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Currently, the cheapest rate is $0.1765 if you are willing to lock in for 12 mths.

That's a saving of $0.0578 or $5.78/100kwh.

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Gas comes from Indonesia, not Saudi if I remember correctly.... Besides, from the chart itself you can see there are up and down throughout the year.... Nothing interesting to see....

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2 hours ago, Tjkbeluga said:

Gas comes from Indonesia, not Saudi if I remember correctly.... Besides, from the chart itself you can see there are up and down throughout the year.... Nothing interesting to see....

Iirc... thay say before the market is connected. 

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i only know after switching provider, i had minimal savings. Unit price cheaper but i am being charged 30% more units. LPPL

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11 minutes ago, Galantspeedz said:

i only know after switching provider, i had minimal savings. Unit price cheaper but i am being charged 30% more units. LPPL

Which provider did you switch to arh?

 

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2 hours ago, Voodooman said:

Don't ask me to explain hor... To me, it might as well be written in Latin.

https://www.ema.gov.sg/cmsmedia/Version 2 5 - Vesting Contract Procedures_2018.pdf

Thanks. Skimmed through it.

The number of parameters stated as "determined by EMA" shows it isn't based on a fixed formula and not transparent.

Even if it were based on a fixed formula, the authorities will just use it as justification to overcharge you when the formula is in their favor. When the formula isn't in their favor, they will say market dynamics have changed and the formula is no longer relevant so need to change it.

On a less cynical note, happy to see that we are pricing based on HSFO which should be relatively cheaper once the new IMO requirements for low sulphur fuels kick in next year.

 

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21 minutes ago, kobayashiGT said:

Which provider did you switch to arh?

 

Geneco

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53 minutes ago, Galantspeedz said:

i only know after switching provider, i had minimal savings. Unit price cheaper but i am being charged 30% more units. LPPL

Switch from which provider?

Overcharging?

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13 minutes ago, Davidtch said:

Switch from which provider?

Overcharging?

I thought the meter reading is still done by SP?

If usage really increased 30% for no reason, better call them to check the meter.

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29 minutes ago, Davidtch said:

Switch from which provider?

Overcharging?

sp to geneco...

not sure about overcharging.... only know i am still paying around the same amount regardless SP or Geneco. So the only logical reason is increased in units since mine is fixed plan 

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24 minutes ago, Galantspeedz said:

sp to geneco...

not sure about overcharging.... only know i am still paying around the same amount regardless SP or Geneco. So the only logical reason is increased in units since mine is fixed plan 

When i switched from SP to Geneco, i paid $30 less.

You can use SP app to check your daily electricity usage.

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