Friday, 12 May 2017

Electricity, Gas & Water prices to increase

Electricity tariffs to increase by 6.1% during April 1 to June 30
Expect to pay more for your electricity come Saturday (Apr 1).
 From Apr 1 to Jun 30, electricity tariffs will increase by an average of 6.1% or 1.20 cents per kWh compared to the previous quarter.

For households, the electricity tariff will increase from 20.20 to 21.39 cents per kWh. The average monthly electricity bill for families living in four-room HDB flats, for example, will increase by S$4.21, said SP Group in a press release issued on Friday.

The increase is “largely” due to the cost of natural gas for electricity generation which increased by 12% compared to the previous quarter, said SP Group who reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority.

City Gas to raise household gas prices from May to July
Water prices to go up by 30% by July 2018

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Gas tariffs for households to increase 2.44% from May to July

Households will pay higher prices for the town gas that they get from City Gas over the next 3 months.

City Gas, which supplies town gas to nearly 90% of residents in new Housing & Development Board estates, announced on Friday (Apr 28) that it is raising its general gas tariff for households by 2.44% from 17.61 cents per (kWh) to 18.04 cents per kWh.

The bulk tariff for a minimum consumption of 1,000 kWh of gas per month will be raised from 16.59 cents per kWh to 17.02 cents per kWh, while that for a minimum consumption of 50,000 kWh of gas per month will be raised from 16.08 cents per kWh to 16.51 cents per kWh.

Electricity prices to rise 6.1% for next 3 months
Water prices to rise by 30% over 2 years

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Water prices to increase by 30% from July 1 in two phases

Water prices will increase for the first time in 17 years, Finance Minister Heng Swee Keat said on Monday (Feb 20).

Including taxes, the prices will go up by 30% in 2 phases. The first hike will be from July 1 this year, and the second from July 1 next year.

But lower & middle income households will get help to manage the increase.

2.44% hike in gas tariff for households from May 1 to July 31
Electricity tariffs to increase from April 1

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Looking at water price increase in perspective

He reiterated that water is a strategic issue & a matter of national security – right from the beginning when the nation came into existence, & even until today.

“It’s one of the things which (Singapore’s founding Prime Minister) Mr Lee Kuan Yew used to be obsessed with right from the beginning & right to the end of his life,” said PM Lee.  “And as a nation, we have to maintain his attitude towards water - the attitude that has brought us here. We got water security now because of our obsession. And by keeping this focus, we can stay secure into the future.”

Even though Singapore has developed the 4 “national taps” - local water catchments, water from Johor Baru, NEWater and desalinated water – Singapore “will never have ‘more than enough’ water”, Mr Lee stressed.

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Singapore is world’s most expensive city
4th year in a row

We may be the happiest country in Asia, but we’re also the most expensive city in the world. According to the Worldwide Cost of Living for 2017 report by the Economist Intelligence Unit, Singapore has topped the unenviable chart once again — for the fourth consecutive year.

Four out of the top five on the list are Asian cities — Hong Kong came in second, Tokyo at fourth place, and Osaka at fifth — while Zurich ranked third, followed by Seoul in sixth place, Geneva and Paris tied at seventh spot, New York at ninth and Copenhagen rounding up the top ten.

The study assesses consumer prices across 160 products and services in 133 cities around the globe, and even though Singapore is still the most expensive country in the world to buy and run a car (and the second priciest to buy clothes), we don’t do too bad when it comes to categories like personal care, household goods and domestic help.

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