3.2% cut to power prices in Q1

Electricity prices are set to fall in Singapore over the first quarter of the New Year. Wholesale provider SP Group announced on December 31 that the electricity tariff would decrease by an average of 3.2% (or 6.7 cents per kWH) for the period of January 1 to March 31. This is due to lower energy costs compared with the previous quarter, the company said.

For households, the electricity tariff (before 7% GST) will decrease from 21.43 to 20.76 cents per kWh. The average monthly electricity bill for families living in four-room HDB flats is expected to decrease by $2.39 (before 7% GST) as a result.

The revised tariffs have been approved by the industry regulator, the Energy Markets Authority.