i always hate it when they give what rebate la, gst money la..all BS...soon after there will sure be some increment to collect back everything with interest..so who do u think benefit more? go tell those low income family take their 1k and live forever..the increment will last them longer than what is given.... i am quite sure GST will hit 10% the day IR is complete...and before that..sure will give money again
Singapore’s tariff raising ranked 2nd amongst 21 cities.. Another feat achieved. read the last sentence of this article
According to Hong Kong electricity producer CLP Power, which supplies about 80 per cent of Hong Kong’s power needs, in a media statement last year (Sep 2008), Singapore was ranked second among 21 cities for raising electricity tariffs most, since 2005.
For example, Singapore’s tariff in the table, rose by about 60 plus per cent, compared to about 15 per cent and 10 plus per cent for Hong Kong and Kuala Lumpur respectively.
Singapore Power’s (SP) Net Profit After Taxation for FY08/09 was $798 million, with revenue of $6,618 million.
Since SP provides the delivery of electricity, what about the profits of the power generation companies? Three of Temasek’s power generation companies have been sold to foreign companies.
For example, one of Singapore’s power companies, Seraya Power, was sold to YTL Corporation in Malaysia.
According to YTL’s web site, YTL Power registered a 43.8% jump in revenue for the 12 months ended 30 June 2009, due principally to the consolidation of approximately 4 months’ results from PowerSeraya, with PowerSeraya contributing RM197.4 million (US$56.4 m) in profit before tax.
As this is the profit from just one power generation company, how much in total profits do all the power generation companies make in a year?
And how much of these profits end up in the hands of foreign companies?
With about 117,000 unemployed residents as of June, and perhaps hundreds of thousands of Singaporeans suffering from reduced earnings in the current economic downturn, isn’t it time for a review of our national utilities policies, which allow the power sector to make huge profits, and to sell companies to foreign companies, without the need for parliamentary debate or approval?
Singapore’s tariff for the quarter starting in October, will be 21.69 cents per kilowatt hour, compared to Hong Kong’s 75.7 HK Cents (S$0.136) to 95.5 HK Cents (S$0.172) depending on consumption volume.
By the way, Hong Kong’s CLP Power froze and maintained their tariff for nine consecutive years until 2007.
It's amazing how the electricity here is pegged to crude oil prices when most of it are actually generated by natural gas.
Hong Kong's CLP mulls expanding nuclear capacity
10 December 2008 - CLP Holdings, one of Hong Kong's two electricity producers, said it is studying the feasibility of investing in two nuclear power plants with a combined capacity of 2000 MW.
CLP already owns 25 per cent of a nuclear power joint venture at Daya Bay, in the bordering mainland Chinese city of Shenzhen, with partner China Guangdong Nuclear Power Holding.
"We would like to make more investment. Right now it's a feasibility study only. It's not a firm commitment idea," Andrew Brandler, CLP's chief executive officer, told reporters.
The company is looking to generate 20 per cent of its power from renewable sources, including nuclear, by 2020, Brandler said. Renewables accounted for more than five per cent of its energy portfolio at the end of last year, according to its website.
I think regulator should re-evaluate them, in a market where there is little or no competition the regulator plays a much of a check against excessive profits.
Die lah,every time the F1 race finish.Our electricity goes up sky high for 5 years.Have you guys notice that once the F1 race finish,few days later they'll increase the electricity.
never notice till u mention. Damn Hamilton,Damn Kimi, Damn ferrari...why must have F1 in singapore?create all the jams...what tourist attraction?complete BS
There're many ways to view standards used in price benchmark. Eg. Cost based approach, Market pegging, Margin pegging, Substitute approach, etc.
If energy, in particular electricity, is crucial not only to economic development of the country but also defence, why privatise?
If privatisation does not stimulate competition are we effectively seeding a cartel? So what is the purpose of privatisation when consumers loses their bargaining powers and furthermore sink into a no alternative limbo?
In an infancy recovery from recession, why was the tariff increased without subsidies and the additional burden being put onto companies and individuals? Does this not take away the recovery momentum?
Is our economy more advanced and our technology in dark ages than Madrid, Rome and Amsterdam that we cannot benchmark to them and we can only benchmark to the most expensively priced city? How do we explain the paradox of being one of the smallest city but having the second highest electricity tariffs in the world?
Who bears the rollover costs of hosting F1 and who actually benefitted or lost their monies from the event being held?
Last edited by eyes; 4th October 2009 at 11:36 AM.
No point complaining. Some nice people simply want an armchair job generating candy paper thoughts.
Besides, who dare to flick the feathers from the 7dwarfs?
U like u use, don't like switch off or use less.
Remember who is on the upper hand and who has the clamping tools. When they clamp your balls, that is when u will kneel and beg.
Just my blunt thoughts on some almighty follies.
Last I check we are in the 21st century, old scare tatics don't work.
Why in Singapore.Malaysia already have the racing track everything. Why must it in singapore.Later all the cost of electricity falls on us. Die lah. For 5 years all the electricity will goes up.Soon or later the bus and MRT fare will rise also.
just continue to Pay And Pay la
Newater for industrial use....thought its been mixed with regular water for quite some time lately?
You wont see me much less remember me but i am the guy who makes you look good.
Ya lor keep on voting them.give little bit of sweet. End up paying more then expected.