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.
Solar panels at Marina Barrage.
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.