Electricity rates to up by 6.5% from April 1

Don't you wish it's really a funny joke of April Fools' Day. Alas, there's nothing funny in an increase of electricity rate by 6.5%!!

But you may this "Energy Saving Cartoons and Comics" is a bit of consolation for you (and for me. Sobs!!)

I like this the best: 'Rising energy costs have forced us to turn off the light at the end of the tunnel.' Hehe.

ELECTRICITY tariffs in Singapore will increase by an average of 6.5 per cent starting April 1 to reflect the higher cost of fuel, the city-state's main electricity retailer said on Tuesday, adding to inflationary pressures in the city-state.

SP Services, a unit of Singapore Power, said the higher price of electricity follows a 14 per cent rise in fuel oil prices to $113.37 per barrel over the last three months that was partially offset by a 3 per cent drop in network charges.

Singapore's consumer price index rose by 5 per cent in February from a year ago, below January's 5.5 per cent increase, but economists warn inflationary pressures remain strong in the city-state due to strong domestic demand as well as higher commodity prices.

The government has taken steps to keep inflation in check by persuading hawkers to refrain from increasing prices and deferring an annual review of train and bus fares till the fourth quarter of this year.

From Straits Times, "Singapore electricity rates to rise by 6.5% from April 1".

SP Services said households will pay more for their electricity from April, with their electricity tariff increasing by 6.1 per cent to 25.58 cents per kilowatt-hour.

On average, families in four-room HDB flats will pay about S$4.85 more a month for their electricity based on the new tariff.

Explaining the tariff increase, SP Services said the average fuel oil price increased sharply by 14 per cent to S$113.37 per barrel over the last three months.

At the same time, there was an annual review of the grid network cost or the cost of transporting electricity through the power grid, which resulted in network charges being lowered by 3 per cent for the year ahead.

It said the significant increase in fuel cost, however, more than offsets the reduced network charges.

The Energy Market Authority has approved the increase.

However, about 800,000 Singaporean HDB households can expect to receive S$194 million worth of Utilities-Save (U-Save) and Service & Conservancy Charges (S&CC) rebates in April under the 'Grow & Share' Package announced in the Budget.

The Finance Ministry (MOF) said this is on top of the S$108 million in rebates that households will receive this year under the on-going GST Offset Package.

In total, it said the Government will be giving about S$300 million in U-Save and S&CC rebates this year.

This April, a Singaporean household will receive S$170 to S$220 worth of U-Save rebates and half to one month waiver of S&CC, depending on HDB flat type.

The rebates aim to help households, especially lower income households, cope with rising costs, including higher utilities bills due to the increases in electricity tariffs.

Those living in 1-room and 2-room HDB flats will enjoy utility rebates for at least five months.

Those living in bigger flats will benefit from at least a month of offset of their utilities bills on average.

From Channel NewsAsia, "Electricity tariff to increase 6.1% starting April".

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