Feeling a Sudden Pinch on Your Electricity Bills? A Quick Break Down on the Recent Tariff Increase in Singapore (July 2024)

Tariff Increase Singapore
Estimated Reading Time: 2 minutes

With the recent gas and electricity tariff increase in Singapore, many residents are feeling the pinch. Just how much is the hike, and what causes these frequent increases? In this brief article, we’ll break down the details and uncover the reasons behind these changes.

How Much Is The Recent Tariff Increase in Singapore?

SP GroupCity Energy
0.3 per cent increase in electricity tariffs compared to the previous quarter.Increase of 0.30 cents per kWh, raising the tariff to 23.42 cents per kWh before GST.
New tariff of 29.88 cents per kWh before GST, up from 29.79 cents

From July 1 to September 30:

SP Group announced that there will be a 0.3% increase in electricity tariffs compared to the previous quarter. This raises the tariff to 29.88 cents per kilowatt-hour (kWh) before GST, up from 29.79 cents.

Households under City Energy will also undergo 0.30 cents per kWh increase in town gas over the same period. This means households will pay 23.42 cents per kWh before GST, up from 23.12 cents.

Why Is The Tariff Increasing in Singapore?

According to SP Group, the hike is due to an increase in energy costs, averaging at 0.09 cents per kWh. 

These costs are paid to power generation companies, and are adjusted quarterly to reflect changes in fuel and power generation expenses.

Why Solar Energy Is The Answer to Rising Tariffs in Singapore

With the consistent fluctuations in electricity and gas prices, solar energy has proven to be the better alternative. Not only does solar help curb unstable energy costs, but you’re also doing the world a favor!

Benefits of Switching to Solar Energy

Reduced Reliance on Grid Electricity

Imagine producing your own electricity — it’s not as far off as you think! With the adoption of solar, one of the first changes you’ll notice is the reduced dependency on the grid.

What this means is that because you’re generating your very own electricity, you’re don’t have to rely entirely on the grid anymore. In turn, you get to avoid fluctuating energy prices, giving you more control over your energy consumption and costs.

Long-Term Cost Savings

It’s as simple as it gets, folks. Generating your own electricity directly lowers your monthly electricity bills. You might think the savings aren’t significant, but let me introduce you to one of our homeowners who is now paying just slightly over a dollar on electricity every month!

one of our customers who pays $1.67 a month for electricity

Environmental Benefits

Switching to solar also reduces your carbon footprint and contributes to a sustainable future. This helps combat climate change and promotes a healthier environment for everyone.

How Do I GetSolar?

With our solar assessment tool, you can see how much solar energy you could generate, the estimated cost of getting a solar system, and your potential savings on your monthly bills! The best part? It’s free to use — and you can use it as many times as you’d like!

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