In Singapore, the national grid operator SP Group announced that electricity tariffs will see an average increase of 3.7 percent from October to December, equating to approximately 0.98 cents per kWh before the inclusion of Goods and Services Tax (GST).
This marks the second consecutive quarter of tariff hikes, as SP Group attributes the electricity tariff increase to elevated energy costs compared to the previous quarter. For households, the electricity tariff, prior to GST, will rise from 27.74 to 28.70 cents per kWh. This results in an average monthly electricity bill increase of S$3.57 (US$2.60) for families residing in Housing Board four-room flats. Additionally, City Energy has announced a 2.3 percent increase in the gas tariff, bringing it to 22.42 cents per kWh.
In response to the escalating costs, Deputy Prime Minister Lawrence Wong unveiled a fresh support package worth S$1.1 billion (US$800 million) on Thursday. This comprehensive initiative includes cash disbursements and utility bill discounts for eligible Singaporeans. The Finance Ministry reported on Friday that approximately 950,000 households residing in HDB flats in Singapore will benefit from U-Save and service and conservancy charges (S&CC) rebates scheduled for October.
The rebates, which are distributed quarterly in April, July, October, and January as part of the permanent GST Voucher scheme and Assurance Package, aim to assist lower- to middle-income households. In addition to these existing rebates, eligible households will receive an extra S$20 per quarter of U-Save rebates from January 2024 to December 2025.
These additional rebates will fully offset the increase in utility bills for one- to two-room flats, cover approximately 80 percent of the cost for three- to four-room HDB flats, and about 65 percent for larger flats. This means that three- to four-room HDB flats will pay an average of about S$2 more per month, while five-room and larger HDB flats will pay about S$4 more per month.
Eligible households will automatically receive these benefits, with U-Save rebates credited directly to their utility accounts with SP Services, and S&CC rebates credited to their respective town council accounts.
(Source: CNA)
