Singapore Electricity and Gas Prices to Decrease in July-September

Households in Singapore can expect lower electricity and gas bills from July to September as a result of reduced energy and fuel costs. The electricity tariff will drop by 0.65 cents per kilowatt-hour (kWh) and gas prices will decrease by 0.44 cents per kWh before goods and services tax. SP Group announced a 2.3% decrease in electricity tariff for households, resulting in an average four-room HDB household seeing a $2.36 reduction in its monthly electricity bill before GST. City Gas also stated that the gas tariff will decrease from 22.72 cents per kWh to 22.28 cents per kWh due to lower fuel costs.

SP Group and City Energy review the electricity and gas tariffs every quarter based on guidelines set by the Energy Market Authority. The energy and fuel cost components are determined using average prices from the preceding quarter. Global fuel price fluctuations, influenced by geopolitical factors like conflicts in the Middle East, can cause the tariffs to vary from quarter to quarter.

According to the source: The Straits Times.