The_King Posted March 28 Share Posted March 28 A report from SingStat has disclosed that in 2022, Singapore’s Utilities Sector—encompassing water, sewerage and electricity—generated S$4.2 billion in profits. This figure was derived from S$48.5 billion in Operating Revenue minus S$44.3 billion in Operating Expenditure. With over 1.4 million residential, commercial and industrial customers, this amounts to an approximate cost of S$3,000 per customer (S$4.2 billion divided by 1,400,000 customers). The sector’s revenue is poised for further growth due to an 18% increase in water prices, to be implemented in two phases in 2024 and 2025, coupled with three consecutive quarters of price hikes in electricity and gas in 2023. The report also highlighted that the profitability ratio in 2022 reached 12.8%, marking a modest rise from 12.4% in 2021. This surge in the utility sector’s revenue and profits per customer signifies a 172.7% increase (S$3,000 2022 divided by S$1,100 2003 profits per customer) or an average annual growth of 5.4% over the span from 2003 to 2022. Taking into account an inflation rate of 1.9%—with the CPI escalating from 75.261 in 2003 to 108.37 in 2022—the actual annual profit increase per customer ~ stands at around 3.5% (5.4% – 1.9%). In comparison, according to CSImarket.com, the average net profit margin for the utility sector in the United States was 9.68% in the first quarter of 2022, increasing to 10.88% for the trailing twelve months (TTM). Singapore’s Utilities Sector, with a profitability ratio of 12.8%, not only exceeds the U.S. average but also outshines it. Such a notable disparity may, arguably, prompt concerns over the market dynamics and regulatory oversight within Singapore. This situation suggests a need for policymakers to conduct a thorough review to ensure that this high profitability is not a result of monopolistic practices or excessive charges, which could compromise the affordability and accessibility of essential services for the residents of Singapore. In 2003, the estimated profit derived per customer was about S$1,100 (S$11 billion in profits divided by 1,000,,000 customers). In stark contrast, the profit per customer in 2022 was S$3,000. https://gutzy.asia/2024/03/28/singapore-utilities-profits-hit-4-2b-in-2022-profit-soars-from-s1100-in-2003-to-s3000 2 1 Link to comment Share on other sites More sharing options...
sTiCkY Posted March 28 Share Posted March 28 what the fark they keep increasing tariff for Link to comment Share on other sites More sharing options...
aaur4man Posted March 28 Share Posted March 28 are they supposed to make profits? Link to comment Share on other sites More sharing options...
Huat Zai Posted March 28 Share Posted March 28 9 hours ago, sTiCkY said: what the fark they keep increasing tariff for 8 hours ago, aaur4man said: are they supposed to make profits? mai gong bo, 0.3 percent decrease Orgasmic boh? FFuuuuuuu 4 Official Mugentech Minecraft server: Please see thread in Gamers Link to comment Share on other sites More sharing options...
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