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Found 7 results

  1. Why electricity bills increase when natural gas prices drop, ST forum writer boldly asks source: https://mothership.sg/2020/01/electricity-bills-natural-gas-price-singapore/ A Straits Times forum letter writer has boldly asked a pertinent consumer interest question that many have thought about, but did not act upon. In a forum letter published on Jan. 1, 2020, the writer, Alan Chiu Chen Hong, publicly questioned how could it be possible that electricity tariffs will rise on average about 3.5 percent in the first three months of 2020, when gas prices has been decreasing. Such an increase in tariffs would translate to a rise of S$3.20, from S$92.75 to S$95.95, for a family in a five-room HDB flat. Cheaper gas used to generate electricity, right? The inability to logically parse this relationship between tariffs and gas stemmed from the news that electricity bills will rise and gas prices will fall in tandem. It was first reported in ST on Dec. 31, 2019, in an article titled, “Electricity bills to go up, and gas prices to fall”. But there was no clear explanation provided by the authorities for this phenomenon. The letter writer then elucidated this link. An inverse relationship between gas prices and bills? Citing the Energy Market Authority Singapore, the letter writer wrote that about 95 percent of Singapore’s electricity is currently generated using natural gas. This is a significant increase in utilising natural gas to meet Singapore’s power generation needs. Previously in 2001, natural gas was used to produce just 26 percent of Singapore’s electricity, as oil was the preferred fuel. Chiu then wrote: “Therefore, I am surprised by the tariff increase because the natural gas price has been very weak, and has dropped significantly in the past year.” He continued: “Last year, the natural gas price was about 16 to 20 percent lower than in end-2014.” And it appears the letter writer is on to something. What determines tariffs? ST reported in its original article that the cost of fuel determines the tariff. ST wrote: “A key determinant of the tariff is the cost of fuel and power generation.” ST also quoted Professor Subodh Mhaisalkar, executive director of the Energy Research Institute at Nanyang Technological University. Subodh said the cost of electricity generation typically makes up 75 percent of the tariff, and as energy costs go up, it is natural for the costs to be passed on to customers. He added: “The tariff hike would be directly correlated to global energy prices, plus supply and demand pressures.” But the observable trend has been that natural gas prices have been going down. What did the authorities say? ST did try to get an answer from the authorities, but it appeared it wasn’t the clearest of responses. Asked why electricity prices are rising and gas prices falling, an EMA spokesman said: “The difference between the electricity and town gas tariffs is mainly due to the different fuel types used and their prices moving in different directions.” But now that the issue has been aired in the open, a fuller response from the authorities looks likely. Keep your eyes peeled.
  2. KNN...really LLST.... The way these farkers keep increasing, need to stock up firewood and candles liao..
  3. Source: http://www.channelnewsasia.com/stories/sin...1066693/1/.html
  4. SINGAPORE : For the quarter starting in October, electricity tariffs for households will go up by 12.5 per cent or 2.41 cents to 21.69 cents per kilowatt-hour. SP Services said the increase is due largely to significantly higher fuel oil prices over the last three months, which increased by around 21 per cent to S$92.03 per barrel. It added that this brings the fuel oil price to around the level in the first quarter of this year. This is the second quarter tariffs have gone up, after they dipped in the first two quarters of this year. In July, tariffs went up by 7 per cent. Starting from July, the Energy Market Authority used a new formula of calculating tariffs, which takes an average price from the three months in the previous quarter, instead of the first month of the previous quarter. - CNA Due to F1?
  5. Source: http://www.channelnewsasia.com/stories/sin.../407755/1/.html
  6. Electricity tariffs to rise 4.98% from next quarter By Imelda Saad, Channel NewsAsia | Posted: 25 June 2008 1641 hrs SINGAPORE : Electricity tariffs will go up by 4.98 per cent or by 1.19 cents per kilo watt per hour (kWh) for all households from the next quarter, beginning July 1. Singapore Power said the hike is due to higher electricity costs arising from higher fuel prices. The forward fuel oil price is 11.03 per cent higher than that of US$74.40 per barrel for the current quarter. The electricity tariff is reviewed every quarter. - CNA /ls
  7. SINGAPORE: Electricity tariffs will go up by an average of 1.26 cents (S$0.0126) per kilowatt starting 1 April. SP Services said this is due to higher fuel oil prices. Currently, the monthly average electricity bill for a four-room flat is S$78.39. But with the new rates, it will increase by S$4.37 to S$82.75. For the quarter from April to June, tariff is pegged to a higher forward fuel oil price of US$74.40 per barrel, which is 12.25 per cent higher than the US$66.28 per barrel for the current quarter. The electricity tariff is reviewed quarterly. It is adjusted accordingly, in line with the fluctuation in electricity cost.
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