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Thread: Electricity bills up 21%

  1. #101

    Default Re: Electricity bills up 21%

    Quote Originally Posted by mohgui View Post
    the 1,500 lights not only illuminate the track during the night... they illuminate the track during the day too. OMG... that's wasteful

    no wonder now they want to reclaim what's lost... damn those buggers!!!
    er.. i guess Formula One actually paid for the cost and operation of lights.

  2. #102

    Default Re: Electricity bills up 21%

    The power increase has nothing to do with F1..... claims that the 21 percent increase is due to F1's power consumption is ridiculous.

  3. #103

    Default Re: Electricity bills up 21%

    We promise you with more good year are all bullshit

  4. #104

    Default Re: Electricity bills up 21%

    That's how people keep their profit constant or better. Blood suckers!!!

    I really pity myself and those who are strucked in the middle - neither consider as the poor or the rich.

  5. #105
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    Default Re: Electricity bills up 21%

    Quote Originally Posted by Silence Sky View Post
    Why complain now when you asked for Pay And Pay in May the 6, 2006?

    More reasons for SMRT to increase price again.
    Look at how the Republic Poly is air conditioned. Parents need to prepare themsleve for more fee hike.

    Bery Good
    I dun really see why SMRT got the reason to increase the fare, their MRT train is full house all the time, worse than sardine cans....

  6. #106

    Default Re: Electricity bills up 21%

    Quote Originally Posted by Reno View Post
    I dun really see why SMRT got the reason to increase the fare, their MRT train is full house all the time, worse than sardine cans....
    Because of more people taking the rides, hence more money needed to run more trains...

  7. #107

    Default Re: Electricity bills up 21%

    Quote Originally Posted by spindoctor View Post
    http://www.channelnewsasia.com/stori...379056/1/.html

    SINGAPORE: Singaporeans will see an increase of 21 per cent in their electricity bills in the last quarter of this year.

    The average electricity tariffs from October to December would go up by 5.38 cents per kilowatt per hour. The Energy Market Authority (EMA) said the increase is due to higher fuel oil prices.

    For the last quarter of this year, oil prices were nearly S$155 per barrel, 38 per cent more than the third quarter.

    So average monthly electricity bills look set to rise by S$5.70 to S$22.92 for those living in one- to five-room public housing flats.

    For those living in the one- to three-room flats, this works out to an increase of between S$90 and S$223 in electricity bills for this year.

    "I am jobless, so burden for me also," one individual said.

    "Even though I don't pay the bill, my son does so I still feel the pinch for him," said another.

    Seah Choon Seng, executive director, Consumers Association of Singapore, said: "The 20 per cent adjustment in tariff price is quite hefty for consumers to bear and I suppose one of those very high adjustments we see in many years. We feel that the companies involved in the utilities business should work harder in improving their efficiency to bring down the costs for consumers."

    The EMA said the government's U-save rebates of S$310 to S$330 to help offset increases in utilities bills is more than enough to cover this year's electricity price increase for one-, two- and three-room HDB flats.

    For four-room HDB households, the increase to the bill size for this year would be marginally higher than the U-save rebate given. These homes received S$295 in U-save rebates. But the total bill size for 2008 is estimated at S$316.

    The EMA feels there is more room for Singaporeans to conserve and use less energy. That's because the EMA's surveys and findings show that nearly 40 per cent of Singapore homes are using more energy than they require to. And the air conditioner is one of the largest energy guzzlers in homes here.

    Khoo Chin Hean, chief executive, EMA, said: "There is a lot of use which can be curtailed. There is probably quite a bit of wasteful usage. It is this kind of usage we can be more mindful of and take measures to manage our consumption."

    The authority said if the forward fuel prices come down next month, the electricity tariff from January to March 2009 will be reduced accordingly. - CNA/vm

    Anyone knows why Q4 oil prices are reported in the past tense? The report was written in Sep i.e. in Q3!
    That's becoz it is 3 months forward price.

    Theoretically, spot price will eventually converge to forward price.

  8. #108

    Default Re: Electricity bills up 21%

    Is the bus fare up too? i saw something like 70 cents for a few stops..

  9. #109

    Default Re: Electricity bills up 21%

    Quote Originally Posted by aeskywan View Post
    Because of more people taking the rides, hence more money needed to run more trains...
    R U sure or not?? Train at Peak hour need to take 5 minute meh And the train platform down at peak hour

  10. #110

    Default Re: Electricity bills up 21%

    Quote Originally Posted by creampuff View Post
    Warped logic?

    1) We're now paying the price for being the first country to have a Formula One night race.
    After all, all those 1,500 or so special lamps to illuminate the race track must consume uber large amount of electricity.

    2) The proliferation of ever more ERP gantries must mean more electricity consumption, as is the new underground KPE.

    Somebody's got to foot the bill.
    So this is Singapore Power's way to share the cost for the whole population.
    electricity price for domestic users are passed through based on 3 months forward hedging. I find it funny that alot of ppl linked it with F1.

    Totally off.

  11. #111

    Default Re: Electricity bills up 21%

    Quote Originally Posted by redstone View Post
    I was shocked such a huge raise is allowed.
    if a huge raise is not allowed...then govt has to swallow it. Hopefully the next 3 months forward price will come down.

    you can track 3 months forward oil price at ICE.

  12. #112

    Default Re: Electricity bills up 21%

    Quote Originally Posted by josho View Post
    Mr khoo khoo predict $155/barrel in next mth, as such review is done every 3mth. They are just afraid of losing money thus having the 21% charge bring forward should there be any increase in fuel price. This is ridiculous and outrageous for them to increase up to 21% like nobody business. Now, they think Singaporean all very rich after seeing so many fans at F1 track.

    Down to that EMA CEO! What if price never increase, will they rebate us back? Fancy them gave us money ytd, and now we got to return them back. What's the use? This is just a show leh...
    This is hedging. When you hedge you lost some you gain some. But you gain certainty. It is the same case when let say the 3 months forward price is $50 instead of $155.

  13. #113

    Default Re: Electricity bills up 21%

    Quote Originally Posted by goon View Post
    wonder what's the use of Public Transport Council,etc ? All these public regulatory boards when all kinds of damn increments will be PASSED by them? They are all set up just to say YES whether there;s justification or not esp transport n utility increase.
    See la,this what happens when there's too much 'concentration' of power in ONE place!
    Oil is an international product. If oil price increases what can the company do except to pass through? Moreover when the increase in oil prices is so much over the past 1 yr......

    we can only blame ourselves for not having oil. If only we are Brunei or still part of Malaysia.

  14. #114

    Default Re: Electricity bills up 21%

    Quote Originally Posted by Goondu View Post
    However, Reno had pointed out correctly. While the rebates were given out to the lower income families, commercial entities may not be so lucky. And to maintain a certain level of gross profit, the rising costs will ultimately passed down to the consumers. And the inflation for the next 2 months will remain high.
    Commercial entities if big enough are unlikely to buy electricity from SP Services. They likely to enter into contracts with electricity retailers.

    Whether they lucky or not.....have to depend on the sort of contracts they entered into.

  15. #115
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    Default Re: Electricity bills up 21%

    the energy market is not supermarket, dun like 1 can go to others. just like public transport, there is very little alternative wan.

    consumers at the end of the line "just swallow" lar....

  16. #116
    Senior Member redstone's Avatar
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    Default Re: Electricity bills up 21%

    Lately so many things rise... ERP, bus, electricity now newspaper.

  17. #117
    Senior Member denniskee's Avatar
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    Default Re: Electricity bills up 21%

    Remember, even with all these increases, a minister said in the news a month or 2 ago, which was than censored in the repeat of news the next afternoon.

    "dont increase the salary, else, we loose the competitive edge."

    there is this sentence or something like this thats drilled into my mind, "bite the bullet. tough it out together and we will come out stronger."
    photography makes one sees things from all angles.

  18. #118

    Default Re: Electricity bills up 21%

    Quote Originally Posted by foreverlovex View Post
    This is hedging. When you hedge you lost some you gain some. But you gain certainty. It is the same case when let say the 3 months forward price is $50 instead of $155.
    Quote Originally Posted by foreverlovex View Post
    if a huge raise is not allowed...then govt has to swallow it. Hopefully the next 3 months forward price will come down.

    you can track 3 months forward oil price at ICE.
    Quote Originally Posted by foreverlovex View Post
    electricity price for domestic users are passed through based on 3 months forward hedging. I find it funny that alot of ppl linked it with F1.

    Totally off.
    Sorry, I don't understand your points.
    Hedging is a tool used by producers to protect themselves against negative price movement in the future.

    Let's say you hedge at $155/barrel three months ago.
    Today you buy oil at the spot rate $100/barrel, how can you charge me $155/barrel?
    At worst you should only pass on the losses on the premium for the call option to the consumer.

    I look at this as a case of cheating.
    To make it worse you charge me $155/barrel three months before you take the delivery at $155/barrel!
    Last edited by Silence Sky; 2nd October 2008 at 01:37 AM.

  19. #119

    Default Re: Electricity bills up 21%

    Quote Originally Posted by Reno View Post
    I dun really see why SMRT got the reason to increase the fare, their MRT train is full house all the time, worse than sardine cans....
    In the first place, do they need a reason to increase price?
    If you really must have a reason, it will be "pay first before you ask for something better".

  20. #120
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    Default Re: Electricity bills up 21%

    hedging should be illegal.

    even hawkers cannot do that when prices of raw materials like eggs, veggies & sugar prices increase when they did. why should large companies get away with such malpractices!

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