Electricity Tariff to Fall 15% This July to September 2020
Households can expect reduced monthly electricity bills.
Electricity tariffs will decrease by an average of 15% or 3.42 cents per kilowatt-hour (kWh) for the period of 1 July 2020 to 30 September 2020, SP Group announced in a media release on 30 June.
Households will pay 19.60 cents per kWh instead of 23.02 cents per kWh (before 7% GST) for the tariff.
This comes after the quarterly review by SP Group based on guidelines set by the Energy Market Authority, the electricity industry regulator.
They found lower energy costs as compared to the previous quarter.
Tariffs in the previous quarter fell by 5.1% which records a fall from a five-year high in the first three months of 2020.
The latest tariff is the lowest since the 19.13 cents per kWh that was set during the October to December period in 2016.
Here are the revised changes for average monthly electricity bills in the table below:
Families living in four-room HDB flats will pay an average of $12 lesser for their monthly electricity bill.
On the other hand, those living in three-room and five-room HDB flats pay $8.82 and $13.76 lesser on average per month respectively.
These revised charges are before the 7% GST is implemented.
Lead image via iStock.