Singapore electricity tariffs to drop 2.9 percent

• 11 years ago (2012-09-29)
• David Flin

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Domestic electricity tariffs in Singapore will go down by 2.9 percent from October to the end of the year, a second successive quarterly decline. The rate will fall from 28.08 Singapore cents per kWh to 27.27 cents per kWh.

Singapore Power Services (SP Services) said that the tariff cut follows a 2.5 percent decline in tariff for July to September. It added that the tariff reduction was due to lower power generation costs, arising mainly from lower natural gas prices. Over the last three months, the average fuel oil price dropped from S$130.10 per barrel to S$124.19 per barrel. This resulted in natural gas prices also falling by 4.5 percent, as the price of natural gas in Asia is pegged to the fuel oil price.