In an announcement made on Friday (29 September), electricity provider SP Group said that the increase was due to higher energy costs compared with the previous quarter.
For households, the electricity tariff will increase from 27.74 to 28.70 cents per kWh for the period from 1 October to 31 December 2023, before the Goods and Services Tax (GST). Families living in Housing and Development Board (HDB) four-room flats will see their average monthly electricity bill increase by S$3.57 before GST.
Electricity tariffs are reviewed by SP Group every quarter, based on guidelines set by the Energy Market Authority (EMA).
Increase in water and gas prices
Similarly, water and gas prices are set to increase as well.
In an announcement on Wednesday (27 September), Singapore's national water agency PUB said that water prices are set to increase by 50 cents per cubic metre over the next two years.
The revisions will take place in two phases – on 1 April 2024 and 1 April 2025 – to reflect the rising costs of producing and supplying water.
Town piped gas prices will increase by 0.51 cents per kWh to 22.42 cents per kWh for the same quarter, as announced by gas provider City Energy on 29 September. The gas hike is for the period of 1 October to 31 December 2023.