SINGAPORE: Electricity and gas tariffs are set to drop in the first quarter of 2019.
Electricity tariffs will decrease by an average of 1.2 per cent or 0.28 cent per kWh from Jan 1 to Mar 31 next year, compared to the previous quarter, SP Group announced on Sunday (Dec 30).
Households’ electricity tariff will fall from 24.13 cents to 23.85 cents per kWh. In effect, the average monthly electricity bill for four-room HDB flats will decrease by S$1, SP Group said.
The lower tariffs are mainly due to the lower cost of natural gas for electricity generation compared to the previous quarter.
This marks the first fall in tariffs since the last quarter of 2017, when the household tariff was 20.30 cents per kWh.
SP Group reviews electricity tariffs quarterly based on guidelines set by the Energy Market Authority, the electricity industry regulator.
GAS TARIFF TO DECREASE
In a separate news release, City Gas also announced on Sunday that gas tariffs will decrease in the first quarter of 2019 by 0.81 per cent or 0.16 cent per kWh, from 19.67 cents per kWh to 19.51 cents per kWh.
This is due to a decrease in fuel costs compared with the previous quarter, City Gas said in its media release.
"City Gas reviews the gas tariffs based on guidelines set by the Energy Market Authority (EMA), the gas industry regulator," the release said.