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Sunday, July 21, 2024
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HOUSEHOLD ELECTRICITY AND GAS TARIFFS TO RISE IN JULY-SEPTEMBER PERIOD

Singapore – In a move that is likely to affect millions of households, the electricity and gas tariffs are set to increase for the July to September period, citing higher energy costs.

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According to national grid operator SP Group, the electricity tariff will rise by 0.3 per cent or 0.09 cent per kilowatt hour (kWh) on average before Goods and Services Tax (GST). This translates to an increase of S$0.35 in the average monthly electricity bill for families living in Housing and Development Board (HDB) four-room flats.

Meanwhile, City Energy announced that the gas tariff before GST will also increase by 0.30 cent per kilowatt hour, from 23.12 cents per kWh to 23.42 cents per kWh for the coming quarter.

The tariff hikes are a result of higher energy costs, and are reviewed every quarter by SP Group and City Energy based on guidelines set by the industry regulator, the Energy Market Authority (EMA).

However, in a bid to mitigate the impact of the tariff increases, more than 950,000 Singaporean households living in HDB flats will receive U-Save and service and conservancy charges (S&CC) rebates in July. The rebates, which are part of the permanent GST Voucher (GSTV) scheme and the Assurance Package, are designed to provide support for GST and cost-of-living expenses for lower- to middle-income households.

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As announced at Budget 2024, eligible households will receive additional U-Save rebates to help cope with increases in their utility bills. In total, they will receive 2.5 times the amount of regular U-Save, or up to S$950, in FY2024. This is expected to cover about eight months of utility bills for those living in 1- and 2-room flats, and about four months of utility bills for those living in 3- and 4-room flats.

Eligible households will also receive up to four months of S&CC rebates altogether this financial year, including the one-off Budget 2024 Cost-of-Living S&CC Rebate to offset 0.5 months of S&CC in January 2025.

The tariff increases and rebates are part of the government’s efforts to balance the need to ensure a sustainable energy market with the need to support lower- to middle-income households. As the cost of living continues to rise, the government is under pressure to provide more support to vulnerable households.

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