Here’s some shocking news!
Okay—admittedly, that was a bad pun, but it served its use.
Utilities company SP Group has announced that the electricity tariffs for households will be increasing by an average of 8% from July to September this year, compared to the last quarter.
To the surprise of no one, the higher energy costs are being fuelled by the rising global gas and oil prices, which are being exacerbated by the war between Russia and Ukraine.
The Price Increase
Without account for the Goods and Service Tax (GST), the tariff will be going from 27.94 to 30.17 cents per kilowatt hour (kWh) for the third quarter of 2022.
In summary, it will cost 32.28 cents per kWh with GST.
This means that the average monthly electricity bill for families living in a four-room GDB flat will increase by S$8.82, GST included.
This is the sixth consecutive quarter where the prices have increased.
According to the SP Group’s statement, the utilities company reviews the electricity tariffs every quarter of the year based on the guidelines set by the electricity industry regulator, the Energy Market Authority (EMA).
The revised tariffs have already been approved.
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Likewise, gas supplier City Energy has announced on Thursday (30 June) that the gas tariffs for households will increase by 1.43 cents per kWh, bringing the price to 23.09 cents per kWh for this quarter from 21.66 kWh, before GST.
The EMA has also approved of the increase in gas tariff prices.
Thank goodness the government had the foresight of giving out S$100 GST Vouchers in the new S$1.5 billion support package by September to help cope with the rising utility bills.
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