Electricity tariffs to increase by 4.3 per cent

Fann Sim

Electricity tariffs will increase by 4.3 per cent from April to June this year as higher fuel prices have resulted in higher power generation costs, said SP Services.

Electricity tariff of households will increase 1.19 cents per kWh from 27.59 to 28.78 cents per kWh. This means that the average monthly electricity bill for families living in four-room HDB flats will increase by $4.18.

The average fuel oil price over the last three months between 1 January and 15 March increased from $127.07 to $135.37 per barrel – a 7.3 per cent increase.

The tariff is reviewed quarterly by SP Services based on guidelines set by the Energy Market Authority (EMA), the electricity industry regulator.