Singapore Electricity Tariff Dips 10.4% Amid Lower Energy Costs
Singapore households are in for a welcome reduction in their electricity bills. The Straits Times reports that the household electricity tariff will drop by 10.4% from October to December, thanks to lower energy costs.
The new rate of 28.59 cents per kilowatt hour (kWh) represents a decrease from the previous quarter's 31.91 cents per kWh. For Housing Board four-room flat dwellers, this translates to an average monthly electricity bill reduction of $12.99 before GST is applied.
The overall electricity tariff before GST will decline by an average of 10.6% or 3.32 cents per kWh compared to the previous quarter. Additionally, piped town gas provider City Energy announced a decrease in household gas tariffs by 8.6%, from 23.48 cents per kWh in the previous quarter to 21.45 cents per kWh from October 1 to December 31.
Rising tensions in the Middle East have driven oil prices higher, which may lead to an increase in electricity tariffs in the first quarter of 2027, according to Rystad Energy senior consultant David Chew. However, he notes that the current decrease is 'some welcomed good news for Singaporeans.'