December 29, 2009ELECTRICITY TARIFF REVISION FOR THE PERIOD
1 For the quarter 1 Jan 2010 to 31 Mar 2010, the electricity tariff for households will increase by 5.4% or 1.18 cents (S$0.0118) per kWh to 22.87 cents (S$0.2287) per kWh. The average increase in tariffs, across all customer categories, for Jan to Mar 2010 will be 5.5%
2 The increase in tariffs in the coming quarter is due largely to higher fuel oil prices. The average fuel oil price over the last three months has increased by around S$7.35 to S$99.38 per barrel. This is 8% higher than the S$92.03 per barrel used in setting the tariffs for the current quarter.
3 The breakdown of the electricity tariff into its four components is as follows:-
a) Energy Cost: Increase by 1.18 cents per kWh to 17.68 cents per kWh which is paid to the generation companies. This component is adjusted quarterly for fuel price changes.
b) Network Cost: Unchanged at 4.92 cents/kWh which is paid to SP PowerAssets. This fee is reviewed every year and has been reduced by 8 % since Oct 2008.
c) Market Support Services Fee: Unchanged at 0.22 cents per kWh which is paid to SP Services. This fee is reviewed every year and has been reduced by 21% since July this year.
d) Market Administration and Power System Operation and Fee: Unchanged at 0.05 cents per kWh. This is paid to EMC (Energy Market Company) and EMA PSO (Power System Operator), to recover the costs of operating the electricity wholesale market and power system.
4 SP Services reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA) and the latest tariffs are outlined in Appendix 1. These tariffs have been approved by the Energy Market Authority, the electricity industry regulator.
REVISION OF ELECTRICITY TARIFFS FROM 1st JANUARY 2010
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