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SINGAPORE: The electricity rate for homes will increase by about 9.3 percent from the previous quarter for the October-December period, SP Group said on Wednesday (September 30).
Excluding goods and services tax (GST), the rate will increase from 19.6 cents to 21.43 cents per kWh, or 1.83 cents, for the quarter ending December 31.
This means that the average monthly electricity bill for families living in four-bedroom apartments will increase by S $ 7.01, before GST, said SP Group.
Despite the increase, the revised rate and that of the prior quarter are the lowest in the past three years, the company said.
Quarterly household electricity rates over time. Figures exclude GST. (Graphic: SP Group)
“The increase this quarter is due to higher energy costs, which is an important component of the electricity tariff and is paid to energy generating companies.
“The remaining components of the rate, consisting of network costs and market support service rates for SP Group and Market Administration and Power system operation rate for Energy Market Company and Power system operator, remain unchanged. changes, “added SP Group.
Electricity rates are reviewed quarterly according to the guidelines established by the Energy Market Authority, the electricity industry regulator. The revised rates have been approved by the authority.
