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Vdln0248
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With the recent decline of crude oil now below US$60.00, SP Power has not make any announcement on the reduction of Electricity supply rate for next quarter? When prices on the rise, they are fast in announcing increase.

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With the recent decline of crude oil now below US$60.00, SP Power has not make any announcement on the reduction of Electricity supply rate for next quarter? When prices on the rise, they are fast in announcing increase.

Good point! And I guess their answer would be they do hedging and hence need time for the new prices to take effect but on the same token, when oil prices go up, the hedging excuse never pops up👎

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Good point! And I guess their answer would be they do hedging and hence need time for the new prices to take effect but on the same token, when oil prices go up, the hedging excuse never pops up👎

The more profit they have, the more bonus they have, why would they want to reduce their bonus???

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With the recent decline of crude oil now below US$60.00, SP Power has not make any announcement on the reduction of Electricity supply rate for next quarter? When prices on the rise, they are fast in announcing increase.

SP price review is quarterly.

So, next review is due around Christmas.

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operating costs increase.

 

Don't forget our annual public transport fare review. Don't know what they will say this round. I think they will say, "although fuel prices have dropped, but it's just a small portion of the overall operating costs". [laugh]

 

The decrease should be substantial but dunno what these ppl will say.

 

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Oil is only $$57 a barrel and I am also waiting for oil and power companies

 

to lower their prices. Then the price of a lot of things will also fall

 

cos transport cost is substantially reduced.

 

:D

 

 

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Let's await their announcement. But don't expect a major decrease even though the drop is substantial. They will give a thousand excuses as usual. I guess when we depend on sole power supply vendor for domestic market, we are at their mercy.

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Let's await their announcement. But don't expect a major decrease even though the drop is substantial. They will give a thousand excuses as usual. I guess when we depend on sole power supply vendor for domestic market, we are at their mercy.

It will track oil prices, unlike our oil cartel, electricity price is largely determined by a formula, so cannot cheat one.

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The more profit they have, the more bonus they have, why would they want to reduce their bonus???

Same line of reasoning as COE. Who doesn't want more money??

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Oil is only $$57 a barrel and I am also waiting for oil and power companies

 

to lower their prices. Then the price of a lot of things will also fall

 

cos transport cost is substantially reduced.

 

:D

 

 

no lah. We will use the saving from the fuel to pay our drivers more. They need increment too right?

:D

It will track oil prices, unlike our oil cartel, electricity price is largely determined by a formula, so cannot cheat one.

it is high time to review the formula as the energy market dynamic has evolved.....
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