SP Group Electricity Tariffs Up By 8% For Q3, Higher Energy Costs Due To Ukraine War

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SP Group Increases Cost Of Electricity Tariffs By 8% For 6th Consecutive Quarter

For the past few months, Singaporeans have seen the prices of goods and services rising for a myriad of factors.

S’pore Banks Increase Rates For All Home Loans, DBS’ Fixed Rate Package Highest For Now

Unfortunately, the skyrocketing costs may not stop anytime soon.

On Thursday (30 Jun), SP Group announced that electricity tariffs will increase by an average of 8.1% for the period from 1 Jul to 30 Sep. This is reportedly due to higher energy costs arising from the ongoing conflict in Ukraine.

With the move, electricity tariffs have gone up for six consecutive quarters since Apr 2021.

Electricity tariffs rise by 8% for third quarter

SP Group announced the tariff increase through a press release on Thursday (30 Jun.)

Compared to the previous quarter, electricity tariffs will rise by 8.1%. The increase occurred as a result of higher energy costs brought about by rising global gases and oil prices.

These prices have also escalated due to the ongoing conflict in Ukraine.

Before taking GST into account, electricity tariffs for households will increase from 27.94 cents to 30.17 cents per kilowatt hour (kWh) for Q3 2022.

Families in four-room HDB flats will experience an S$8.25 increase in their average monthly electricity bill, also excluding GST.

As for those in HDB executive apartments, their bills will rise by an averag...

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