Monday, November 8, 2010

Power bill to fall 3.3% cheaper from October to December

Household electric meter, USA


Singapore households will pay 3.3 per cent less for their electricity bill from October to December - thanks to falling oil prices.

SP Services on Thursday said the average electricity tariffs will be reduced by 0.79 cent per kWh to 23.34 cents per kWh in the next quarter, in line with the lower fuel price price which has fallen to $95.41 per barrel over the last three months.

With the lower tariffs, families in four-room Housing Board flats flats will pay about $3 less a month, on average.

The breakdown of the electricity tariff into its four components is as follows:

  • Energy Cost  paid to the power generation companies: Reduced  by  0.79
    cents per kWh to 18.14 cents per kWh. This component, which  includes fuel
    and non-fuel components, is adjusted quarterly to reflect change in the cost of
    power generation.
  • Network Cost paid to SP PowerAssets: Unchanged at 4.92 cents/kWh. This
    fee is reviewed every year and has been reduced by 10% since Oct 2008.
  • Market Support Services Fee paid to SP Services: Unchanged at 0.22 cents
    per kWh.   This fee is reviewed every year and has been reduced by 21%
    since July 2009.
  • Market Administration and Power System Operation Fee  paid to the
    Energy Market Company and the  Power System Operator:  Unchanged at
    0.06 cents per kWh.  This fee is reviewed every year  to recover the costs of
    operating the electricity wholesale market and power system.

SP Services reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA) and the latest tariffs.

These new tariffs have been approved by the Energy Market Authority, the electricity industry regulator.

source: SP Services

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