Update 1 Jul 2024: Gas and electricity prices to increase from July to September
The revised gas tariffs were approved by the Energy Market Authority
For households, this amounts to a tariff of 29.88 cents per kilowatt-hour before goods and services tax, up from 29.79 cents currently. The new tariff is still one cent lower than the first quarter of 2024. With the new tariff, the average monthly electricity bill for families living in four-room Housing Board flats will rise by 35 cents before GST, increasing from $118.03 to $118.38. The hike is due to an increase in energy costs, by 0.09 cents per kWh on average, said SP Group. These costs, which are paid to power generation companies, are adjusted quarterly to reflect changes in the cost of fuel and power generation.
City Energy, the producer and retailer of piped gas, said in a separate statement on June 28 that town gas tariffs will increase by 0.30 cents per kWh over the same period, also due to higher costs. This means households will pay 23.42 cents per kWh before GST, up from 23.12 cents. With GST, the revised tariff amounts to 25.53 cents.
- 0.2979 cents per kWh
- 50% Discount for 1st month
- 1-year free SingLife Home Insurance
- $20.00 Rebate using referal code RCB3672
Electricity, Gas & Water tariffs to go up
Electricity tariffs will go up by an average of 3.7 per cent, or 0.98 cent per kilowatt-hour, before GST, compared with the current quarter. ST PHOTO: CHONG JUN LIANG
Gas and electricity prices will go up for the next three months due to higher fuel and energy costs. The electricity tariff will go up by an average of 3.7 per cent, or 0.98 cent per kilowatt-hour (kWh), before goods and services tax, compared with the current quarter, said SP Group on Friday. For households, between Oct 1 and Dec 31, the electricity tariff will increase from 27.74 cents per kWh in the current quarter to 28.7 cents per kWh, excluding the GST. Including GST, the rate for the quarter is 31 cents per kWh.
The average monthly electricity bill for families living in four-room Housing Board flats will increase by $3.57 before GST, said SP Group. This is due to higher energy costs compared with the previous quarter, it added. The electricity tariff is calculated from four components, including energy costs that reflect the cost of imported natural gas, and the cost of operating the power stations. SP Group said it reviews electricity tariffs every quarter, based on guidelines set by the Energy Market Authority (EMA).
Meanwhile, the gas tariff for households will go up by 0.51 cent per kWh before GST, said City Energy, the producer and retailer of piped gas. Excluding GST, the rate will increase from 21.91 cents per kWh to 22.42 cents per kWh for the period from Oct 1 to Dec 31. With GST, the rate is 24.21 cents per kWh. This is due to an increase in fuel costs compared with the previous quarter, said City Energy. The revised gas tariffs have been approved by EMA, which also regulates the gas industry.
Electricity, Gas & Water prices to increase
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.
Coping with Inflation & Cost Of Living
Inflation: Prices of food, transport & education have risen the most in Singapore in the last 20 years
Inflation is a word that has been frequently mentioned over the past few years, especially since the COVID-19 pandemic and Russia’s invasion of Ukraine have affected the global economy since 2020 and 2022 respectively. How exactly the prices of different items have changed over the past 20 years, and which ones have seen the greatest leaps?
That was the focus of a recent piece on the finance site dollarsandsense. It showed that the prices of education (75.7 percent), transportation (67.2 percent), and food (58.9 percent) have gone up the most since 2022. At the other end of the list, the price of clothes and shoes has gone up by only 1.1 percent in the last 20 years, dollarsandsense says. The rest of the list is as follows:
- Healthcare costs are up 53.6 percent
- Utilities and other fuel costs are up 51.3 percent
- Accommodation costs up 39.7 per cent
- Household durables and services items are up 25.3 percent
- Recreation and culture items are up 17.8 percent
- “In general, your bowl of $2.50 fishball noodles in 2002 would cost $3.97 today,” the article notes
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