SINGAPORE: Household electricity tariffs will increase by an average of 3.5 per cent for January to March 2020, said utility SP Group on Monday (Dec 30), to hit a five year high.
The rise of 0.81 cent per kWh - bringing the tariff to 24.24 cents from 23.43 cents per kWh in the previous quarter - is due to higher cost of energy, added SP Group.
This means families living in four-room HDB flats can expect their average monthly bill to go up by S$2.76.
The latest tariff will be the highest rate since the October to December period in 2014, when it was at 25.28 cents per kWh.
Electricity tariff had peaked in the July to September period of 2019, before falling by an average of 3.3 per cent in the last quarter of the year.
SP Group reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority, the electricity industry regulator.