SINGAPORE : Electricity tariffs will go up later this year because of higher oil prices.

SP Services said electricity tariffs will be raised by an average of 0.86 cent, or 4.29 percent, per kilowatt-hour, for the three months from October to December.

This is to offset the 12.91 percent increase in oil prices which went up from US$51.42 (S$77.45) to US$58.06 (S$87.46) per barrel.

SP Services added that the electricity tariffs is reviewed quarterly and adjusted according to the fluctuating electricity costs.

These adjustments have been approved by the Energy Market Authority, which is the industry regulator. - CNA/ch