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Wednesday, July 24, 2024
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RISE OF UTILITY BILLS: GAS & ELECTRICITY TARIFFS INCREASE FOR NEXT 3 MONTHS

Gas and electricity tariffs in Singapore will increase for the next three months, affecting households and businesses supplied by SP Group and City Energy.

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From July 1 to September 30, electricity tariffs will rise by 0.3 per cent compared with the previous quarter, amounting to a tariff of 29.88 cents per kilowatt-hour before goods and services tax (GST). This is still one cent lower than the first quarter of 2024.

The hike is due to an increase in energy costs, which are paid to power generation companies and adjusted quarterly to reflect changes in the cost of fuel and power generation.

As a result, the average monthly electricity bill for families living in four-room Housing Board flats will increase by 35 cents before GST, from $118.03 to $118.38.

Meanwhile, town gas tariffs will also increase by 0.30 cents per kWh over the same period, due to higher costs. Households will pay 23.42 cents per kWh before GST, up from 23.12 cents.

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SP Group and City Energy announced the tariff hikes in separate statements on June 28.

The increase in gas and electricity tariffs serves as a reminder for households and businesses to be mindful of their energy consumption and explore ways to reduce their bills, such as using energy-efficient appliances and reducing waste.

WHAT DO YOU THINK?

Have you been affected by the increase in gas and electricity tariffs? Do you have any tips or advice for reducing your energy bills? Share your thoughts and stories in the comments below!

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