3Q electricity tariffs lowered by 2.4%

Households living in four-room HDB flats will be given greater discounts.

"Over the last three months (1 Apr to 15 Jun 2012), the average fuel oil price dropped by 4.6% from S$136.37 to S$130.10 per barrel. This resulted in natural gas prices falling also by 4.6%, because the price of natural gas in Asia is pegged to fuel oil price," said Singapower Power in a release.

"The electricity tariff for households will decrease by 2.4% (or 0.70 cents per kWh) from 28.78 to 28.08 cents per kWh. The average monthly electricity bill for families living in four-room HDB flats will decrease by $2.69," it said, noting that the latest round of tariffs have been approved by the Energy Market Authority.