Household electricity tariffs to increase 4.1% in 1Q 2024, gas by 3.3%

[The_King]

SINGAPORE — Electricity tariffs for households are set to increase by 4.1 per cent for the first quarter of 2024, utilities provider SP Group said in a press statement on Friday (Dec 29).

The hike of 1.19 cents per kilowatt-hour (kwh) in the January to March quarter will see tariffs rise from 28.70 cents per kWh to 29.89 cents.

 

After accounting for the 9 per cent Goods and Services Tax (GST) that will kick in from Jan 1, the tariff will be 32.58 cents per kWh.

SP Group said that the increase is due to higher energy costs compared with the past quarter.

Concurrently, gas tariffs are also set to increase by 3.3 per cent for the same period, City Energy said in a separate statement.

 

Households will pay 0.73 cents per kWh more, from 22.42 cents per kWh to 23.15 cents. With GST, the tariff will be 25.23 cents per kWh.

This marks the third consecutive quarterly increase in electricity and gas tariffs.

 

Electricity tariffs went up by an average of 3.7 per cent in the last quarter of this year and by some 1.2 per cent in the third quarter.

Gas tariffs rose by 2.3 per cent in the October to December quarter after rising 1.1 per cent the previous quarter. 

This was preceded by three consecutive quarterly decreases in electricity and gas tariffs due to lower energy costs.

Both SP Group and City Energy said that they review tariffs every quarter based on guidelines set by Energy Market Authority, the electricity and gas industry regulator.

 

 

To cushion the impact of the increasing carbon tax and water price, eligible households will receive double their regular U-Save rebates, and an extra S$20 a quarter of U-Save from January 2024, the Ministry of Finance (MOF) said in a statement on Friday.

 

This S$20 a quarter was announced by Deputy Prime Minister and Minister for Finance Lawrence Wong on Sept 28 as part of a S$1.1 billion support package for cost-of-living relief.

MOF added: "These rebates are part of the permanent GST Voucher scheme and the Assurance Package, to help defray GST and provide cost-of-living support for lower- to middle-income households."

The added S$20 a quarter of U-Save will be provided every quarter from January 2024 to December 2025. This means an extra S$160 over the two years. 

The rebates are disbursed in April, July, October and January each year. The January payment will be the fourth quarterly disbursement for the 2023 financial year.

On average, the U-Save provided in the 2023 financial year amounts to about eight to 10 months of utility bills for households living in one- and two-room public flats, and about four to six months of utility bills for households living in three- and four-room public flats.

For Service and Conservancy Charges (S&CC), eligible households will also receive an extra one-off 0.5 month of rebate in January 2024. This is also part of the support package announced on Sept 28, MOF said. 

 

Eligible households do not need to take any action to benefit from the U-Save and S&CC rebates.

The U-Save rebates will be credited directly into households’ utilities accounts with SP Services, while the S&CC rebates will be credited directly into households’ S&CC accounts with their respective town councils.

[XianGe]

Will OCK increase again?

[sTiCkY]

oh noes... moi spend finish the $500 from ah gong liao...

[socrates469bc]

how come there was no downward adjustment when energy prices r dropping?????

 

song bo, kumgong pappy serfs???????

 

smlj liberalized electricity market actually results in higher tariffs.

 

wahahahahahahahahahahahahahahahaha

 

[The_King]

5 hours ago, socrates469bc said:

how come there was no downward adjustment when energy prices r dropping?????

 

song bo, kumgong pappy serfs???????

 

smlj liberalized electricity market actually results in higher tariffs.

 

wahahahahahahahahahahahahahahahaha

 

We don't follow ur chart, I follow chart that I draw

[ODACHEK]

Fuck PAP!

[aaur4man]

rich also tio muahahahahaha

 

 

[The_King]

15 minutes ago, aaur4man said:

rich also tio muahahahahaha

 

 

Welcome to sg, you voted for it

[pigpigoink]

moi didnt vote for it, so knn ccb white gang 

[socrates469bc]

24 minutes ago, aaur4man said:

rich also tio muahahahahaha

 

 

 

obviously this kumgong pappy serf dont have a good accountant.

 

she dont know rental income also has to pay tax meh??????

 

property tax in pappyland is largely based on annual market valuation.

 

and becos zheng hu knows that its non-owner occupied, the property tax even higher.

 

she better ask her accountant to do a deal with irs since irs will 99.99% do audit on her previous income tax filings in 2024.

 

really is kumgong to the max.

 

wahahahahahahahahahahahahahahahaha

Edited December 31, 2023 by socrates469bc

[The_King]

1 minute ago, socrates469bc said:

 

obviously this kumgong pappy serf dont have a good accountant.

 

she dont know rental income also has to pay tax meh??????

 

and property tax in pappyland is largely based on annual market valuation.

 

really is kumgong to the max.

 

wahahahahahahahahahahahahahahahaha

 

5 minutes ago, pigpigoink said:

moi didnt vote for it, so knn ccb white gang 

They dont call them pay and pay for nothing

[sTiCkY]

so rich lol 780k a year... what's 270k....

[ODACHEK]

21 hours ago, aaur4man said:

rich also tio muahahahahaha

 

 

Ministers called these "peanuts".