SP Group in Singapore said on Friday that the electricity tariffs will come down for the next three months due to a drop in the cost of natural gas. According to reports, the tariff will decrease by an average of 3.2 percent or 0.67 cent per kWh for the Jul 1 to Sep 30 period.
During this period, the electricity tariff for households will fall from 21.39 to 20.72 cents per kWh during this period. As a result of this, the average monthly electricity bill for families living in four-room Housing Board flats will decrease by S$2.55.
SP Group said that the reduction is due to the lower cost of natural gas for electricity generation, which fell by 7.5 per cent compared to the previous quarter. The electricity tariffs were reviewed by SP Group quarterly based on guidelines set by the Energy Market Authority (EMA), the electricity industry regulator. The latest tariffs have been approved by the EMA.