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SINGAPORE: Electricity will cost more from July to September, due to higher fuel oil prices.
It will be up by an average of 3.24 percent or 0.66 cent per kWh.
Domestic users, for example, will have to pay 21.15 cents for every kWH of electricity, up from 20.49 cents currently.
This means a family whose monthly electricity bill is $78 will be paying about $2.50 more at about $80.50.
The electricity tariffs are reviewed on a quarterly basis.
SP Services says for the period July 1 to September 30, they are pegged to a higher fuel oil price of $87.49 per barrel, compared to $81.23 for the previous quarter.
Fuel oil prices have been escalating especially in recent years, pushing electricity tariffs to the highest to date.
Fuel oil prices were at $38.30 per barrel in April 2001, rising to $52.40 in April 05 and $87.49 currently.
Fuel cost makes up about 55 percent of the cost of electricity. - CNA /dt
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