Electricity prices up again
By Grace Chua
The electricity tariff is set to rise 5.4 per cent to 22.87 cents per kilowatt-hour (kWh) in the first quarter of the new year (2010). -- ST PHOTO: CHEW SENG KIM
ELECTRICITY prices are back on the rise for the fourth consecutive quarter.
The electricity tariff is set to rise 5.4 per cent to 22.87 cents per kilowatt-hour (kWh) in the first quarter of the new year (2010), electricity service provider SP Services announced on Tuesday.
That means the electricity bill for an average 4-room flat will go up by about $4.70 - from $87.20 to $91.90.
SP Services said the rate was based on the average fuel oil price for the last three months, which has gone up about 8 per cent to $99.38 per barrel.
Last year, fuel oil prices skyrocketed to about $155 per barrel, pushing electricity prices to 30.45 cents per kWh last October. During the global downturn, oil prices dropped and electricity rates followed.
But as economies recover, oil prices are going up again.
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