SP Tariff Q4 2026: 28.59 Cents/kWh, Down 10.4%

Key Takeaways:
SP Group's Q4 2026 tariff is 28.59 cents/kWh before GST (31.16 cents with GST), down 10.4% from Q3's 31.91 cents. A landed home using 1,200 kWh a month pays around S$374 for electricity alone, about S$43 less than in Q3. SP Group has warned that fuel prices have risen again since September, so the Q1 2027 tariff, due in the last days of December, could climb.

Last updated: 1 October 2026. We update this page every quarter when SP Group announces the new regulated tariff.

Your electricity rate drops on 1 October. SP Group's regulated household tariff for October to December 2026 is 28.59 cents/kWh before GST, 10.4% lower than Q3's 31.91 cents. That is about S$14 a month less for a 4-room HDB flat and around S$43 less for a landed home using 1,200 kWh, both with GST.

The catch is that SP Group says fuel prices have started rising again, so this relief may not last.

What Is the SP Tariff for Q4 2026 (October to December)?

The new tariff is 28.59 cents/kWh before GST, 3.32 cents lower than Q3. With 9% GST, that works out to 31.16 cents/kWh. SP Group's reference 4-room HDB household sees its monthly bill fall by about S$13 before GST.

Source: SP Group tariff information and SP Group's Q4 2026 release. With-GST figures calculated at 9%.

SP Group attributes the fall to lower energy costs. When it announced Q3, it said tariffs could come down if the Middle East situation improved. Fuel prices did ease over the review window, and the tariff followed.

Households on a retailer plan pay the rate in their contract instead, so check your own plan.

What Makes Up the SP Tariff?

The regulated tariff has four components:

• Energy costs: paid to the generation companies. This is the largest and most volatile part, and it is reset every quarter.
• Network costs: paid to SP Group to carry electricity through the grid.
• Market Support Services fee: covers billing, meter reading and retail market systems.
• Market Administration and Power System Operation fee: covers running the wholesale market and the power system.

Almost every quarterly swing comes from energy costs. SP Group sets them using average natural gas prices from the first two and a half months of the previous quarter. The other three components change far less often. In Q4, energy costs fell 3.32 cents to 22.18 cents/kWh, while the other three stayed flat.

That delay matters now. The Q4 rate reflects gas prices up to mid-September, before the rise SP Group has flagged.

How Has the SP Tariff Moved Since Late 2025?

The tariff moved within a narrow band until the Middle East conflict hit fuel prices in 2026. Here is every quarter since Q4 2025:

Source: SP Group quarterly tariff revisions for Q1 2026, Q3 2026, Q4 2026. With-GST figures calculated at 9%.

Q3 added 4.64 cents in a single quarter, more than eight times the 0.56 cents added in Q2. Q4 gave back 3.32 of those cents, about 72%, so the tariff still sits 1.32 cents above Q2. For a closer look at how the wholesale market feeds these swings, see our guide to USEP and electricity prices in Singapore.

What Does Q4's Tariff Mean for Your Monthly Bill?

SP Group's 4-room reference household uses about 390 kWh a month. Landed homes with pools, larger floor areas and multiple air-conditioners use more, so the table below shows three example levels. These are energy charges only, with GST:

GetSolar calculations: kWh × tariff with GST. Excludes other utilities charges.

At 1,500 kWh, every 1-cent change in the tariff moves your bill by around S$16 a month. Q3's rise added about S$76 a month at that usage. Q4 hands back about S$54 of it, or around S$163 across the quarter.

The bigger your home, the more each quarterly reset moves your bill, in either direction. For benchmarks by home type, see our breakdown of the average electricity bill in Singapore.

How Can You Cushion the Next Tariff Reset?

Gas prices set the tariff, and SP Group has said fuel prices have risen since September. That could push the Q1 2027 tariff back up. You can't control gas prices, but you can control how many kWh you buy from the grid.

Generate your own electricity with solar

Every kWh your panels produce and you use at home is one you don't buy at the quarterly rate. A system that offsets 800 kWh a month is worth around S$249 a month with GST at Q4's tariff, down from around S$278 in Q3. Solar savings move with the tariff: each kWh you generate is worth more when the rate climbs and less when it falls.

Under GetSolar's Rent-to-Own plan, you pay a fixed monthly fee instead of an upfront cost, so your payment stays the same while the value of your solar output moves with the tariff. See how it compares with financing in our solar loan vs Rent-to-Own guide. Actual savings vary with your roof, usage and system size.

Solar won't cover your whole bill, since evening air-conditioning still runs on grid power. What it does is shrink the number of kWh each quarterly reset applies to, whichever way the tariff moves.

For a deeper look at upfront and upkeep costs, see our guide to solar panel installation and maintenance costs in Singapore.

Frequently Asked Questions

When does SP Group announce the next tariff?

SP Group announces each quarter's tariff in the last days of the previous quarter, usually between 27 and 30 March, June, September or December. The Q1 2027 tariff, for January to March, is due in the last days of December 2026.

Why does my electricity tariff change every quarter?

The energy cost component tracks natural gas prices, and most of Singapore's electricity is generated from imported natural gas. SP Group resets it every quarter using average gas prices from the first two and a half months of the previous quarter.

Is the SP tariff quoted before or after GST?

SP Group quotes the tariff before GST. Multiply it by 1.09 to get what you actually pay per kWh.

Does the regulated tariff apply to everyone?

No. It applies to households buying electricity from SP Group at the regulated rate. If you are on a retailer plan, you pay your contract rate, so check your own plan.

Does solar still make sense if the tariff falls?

It can, but the case is weaker. Q4's cut reduced the monthly value of an 800 kWh system by about S$29 with GST, and each 1-cent fall trims it by about S$9. Lower savings mean a longer payback, so ask for a quote based on your own usage. Solar is a hedge against the quarters when the tariff climbs, not a guaranteed saving.

The Tariff Resets Every Quarter. The kWh You Buy Are Yours to Change.

Up or down, SP Group's tariff follows gas prices you can't control. Q3 rose 17%, Q4 fell 10.4%, and SP Group is already flagging what could come next. What you can control is how many kWh you buy from the grid.

Check out our free solar calculator to calculate your potential roof savings, or chat with our solar advisors for a no-obligation assessment.