SINGAPORE: Household electricity tariffs will increase by an average of 3.5 per cent for January to March 2020, said utility SP Group on Monday (Dec 30), to hit a five year high.
The rise of 0.81 cent per kWh - bringing the tariff to 24.24 cents from 23.43 cents per kWh in the previous quarter - is due to higher cost of energy, added SP Group.
This means families living in four-room HDB flats can expect their average monthly bill to go up by S$2.76.
The latest tariff will be the highest rate since the October to December period in 2014, when it was at 25.28 cents per kWh.
SP Group reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority, the electricity industry regulator.
City Gas said on Monday that gas tariffs for households will fall by 4.22 per cent or 0.76 cent per kilowatt hour from Jan 1 to Mar 31 next year.
The difference between the electricity and town gas tariffs is mainly due to the different fuel types used and their prices moving in different directions, said a spokesman from the Energy Market Authority.