Singapore’s state-owned electricity monopoly Singapore Power (SP) Services announced today that electricity tariffs will increase by 7.5% starting tomorrow (July 1). The new tariff rate will increase 1.54 cents/kWh from 20.87 cents/kWh to 22.41 cents/kWh.
SP Services said the new rate will be revised in the next quarter after September 30, and claimed that the 7.4% price raise is due to a 15.1% price increase in the cost of natural gas, based on a quarterly guideline set by the Energy Market Authority.
The average monthly electricity bill for a family living in a three-room HDB flat may go up by $4.46 as the 7.4% increase hits all households types from one-room flat to bungalow.
Below is the list of price hikes since the last General Election: