Electricity tariff reduced by nearly 24.7% for first quarter of 2009

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SINGAPORE: The electricity tariff for households will be reduced by 24.7 per cent to 22.93 cents from January 1 to March 31 next year.

SP Services said that on average, the tariff for all customer categories will be down by 24.9 per cent due to lower fuel oil prices.

It added that for the first quarter of next year, tariffs are pegged to a lower forward fuel oil price of S$92.99 per barrel, which is 40 per cent lower than that of S$155.14 per barrel for the current quarter.

The electricity tariff is reviewed quarterly.


At a price of S$92.99 (US$60), the oil price pegged is still a little on the high side compared to current oil price of US$50. Hopefully, we will see further drop in the second quarter of 2009. Cheers.

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