Electricity tariffs in Singapore to reduce by 8 per cent first quarter of 2015

The lower cost of fuel will see the electricity tariffs in Singapore be reduced by an average of 8 per cent or 1.99 cents per kilowatt hour (kwh) in the first quarter of next year (2015).

The reduction prompted by the drop of fuel by 16.4 per cent compared to the previous year will see households experiencing a decrease of electricity tariffs from 25.28 to 23.29 cents per kwh from Jan 1 to March 31 next year, stated Singapore’s energy firm SP Services in a statement as reported by The Straits Times Singapore on Tuesday.

“As fuel cost makes up about 50 per cent of the tariff, this translates to a proportional reduction of 8 per cent in the Q1 2015 electricity tariff," SP Services said.

The quarterly review of the electricity tariff was done based on guidelines set by the electricity industry regulator (Energy Market Authority.

(Source from The Straits Times/Singapore)