SP Group's electricity tariff to fall by average of 2.7% in coming quarter
File photo of HDB flats at night. (Photo: CNA/Jeremy Long)
SINGAPORE: The electricity tariff will fall by an average of 2.7 per cent in the January to March 2023 period compared with the previous quarter, SP Group said on Friday (Dec 30).
This translates to a decrease of about 0.79 cents per kWh before GST, the utilities provider said.
SP Group said the fall in tariff was due to lower energy costs compared with the previous quarter.
This is the second quarterly decrease in a row, after six consecutive hikes since the quarter starting in April 2021.
For households, the electricity tariff before GST will decrease from 29.74 cents to 28.95 cents per kWh from Jan 1 to Mar 31, 2023.
The average monthly electricity bill for families living in four-room Housing Board (HDB) flats will decrease by S$2.63 before GST, said SP Group.
SP Group reviews the electricity tariffs every quarter based on guidelines set by Singapore's electricity industry regulator, the Energy Market Authority.
