This is yesterday’s news that I had posted on my other blog.

On average, all SP Services customers will face a 21.89 per cent increase.

For the period from October 1 to December 31, tariffs have been pegged to a higher “forward fuel oil price” of S$155.14 per barrel.

This price is 38.06 per cent higher than the S$112.35 per barrel in this current quarter.

The electricity tariff is reviewed quarterly and adjusted in line with fluctuations in the cost of electricity, and approved by the Energy Market Authority.

At a news conference on Monday, the Authority’s chief executive Khoo Chin Hean said that the increase is the highest so far this year.

-I had plotted the graph below to reflect the real movement of the electricity tariff comparing to the ones provide by SPServices.
Hopefully this will wake up more people to conserve electricity not only to cut cost but also to prepare for more spikes ahead.

It will take so much more to convince family member to reduce consumption without the above graph. Hopefully we can live with less air conditioning, less wastage of electricity and more outdoor activities.

Anyone interested in researching on solar laptops?

According to AsiaOne News:

FROM tomorrow(1st October 2008), taxi driver Amir Hamzah will keep his water heater switched off, and take cold showers instead.

That’s when the highest electricity tariffs since 2001 will kick in, and Mr Amir, 33, his wife and three-year-old son – who live in a five-room flat in Sengkang – could end up paying almost $23 more a month for electricity.

“We will try and save on electricity as much as we can, and the water heater uses a lot of it,” he told my paper.

The latest tariffs, announced by SP Services yesterday, mean households will need to pay 30 cents per kWh of electricity, an increase of about 5 cents over the existing tariff of about 25 cents per kWh.

Electricity prices have been rising every quarter since last July.

The latest hike was due to higher forward fuel-oil prices for the last quarter of the year, said the Energy Market Authority (see box).

With the increase, the total utilities bill for families in oneto three-room flats will go up by between $90 and $223 thi year.

However, they will receive rebates of between $310 and $330 this year, which will more than offset the rise, said EMA chief executive Khoo Chin Hean.

Those in larger flats will pay between $316 and $433 more in total for utilities this year, but will get rebates of between $130 and $295.

Fuel costs make up 60 per cent of electricity tariffs, with the remainder coming from the cost of transmitting electricity, as well as machinery and equipment costs, among others.

Since 2004, electricity tariffs have been pegged to forward oil prices, instead of spot prices as was the case before, said Mr Khoo.

Pegging tariffs to spot prices makes electricity prices very volatile, he explained.

Read the full article at AsiaOne News

- There should be a correction, electricity prices had been rising since 2001 instead of since last july….

Tweet This Post