Originally Posted by www.straitstimes.comhttp://www.straitstimes.com/Breaking...ry_284015.html
ELECTRICITY bills for Singapore households will go up by about 21 per cent from Wednesday - the highest one-time increase in seven to eight years - due to higher oil prices.
With this latest tariff revision, families living in one- to three-room Housing Board flats will see their utilities bills for this year rising from $90 to $223, said the Energy Market Authority (EMA), which regulates the electricity and gas industry here on Monday.
But the government rebates of $310 to $330 will more than cover the increases for these homes.
Those living in larger homes will face higher monthly bill ranging from $316 to $433.
The government rebates for these households range from $130 to $295, hardly enough to cover the increase for half of these homes.
Chief executive of EMA Mr Khoo Chin Hean, said at a press briefing on Monday that the higher tariffs have been due to the increase in oil prices.
EMA said the projected fuel oil price for the next three months is set to jump to $155.14 a barrel, up 38 per cent from $112.35 for the current quarter.
Fuel costs make up about 60 per cent of electricity tariffs, which are reviewed quarterly and adjusted according to changes in the cost of electricity.
The other 40 per cent includes the cost of generating electricity, maintenance and equipment.
Since 2004, electricity tariffs here have been pegged to projected oil prices for the next three months instead of current oil prices.
Mr Khoo said the old practice made the cost of electricity very volatile. For households, the new tariff will be about 30 cents per kiloWatt-Hour, up from about 25 cents.