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Electricity

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Concepts that are applicable to our topic

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Concepts that are applicable to our topic

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-Demand and Supply
-Ed and Ey

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The demand for electricity in Singapore is inelastic. This is because electricity is a necessity for households and industries in Singapore.

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The price of electricity increases, consumer will use alternative energy source such as solar energy. This will cause the demand of solar energy increase. The determinant is price of related goods.

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The price of electricity increases, consumer will use alternative energy source such as solar energy. This will cause the demand of solar energy increase. The determinant is price of related goods.

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The determinant of supply is resource price. The price of electricity increases due to the increase in price of natural gas for electricity generation. Since the price of electricity increases, this causes movement along the quantity demand. Quantity demand curve moves up.

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MIEC Group Project brief (April 2017 Semester) (3)

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Increase in electricity tariffs

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SINGAPORE - Electricity tariffs will increase by an average of 6.1 per cent for the second quarter of 2017, the Singapore Power (SP) Group announced on Friday (March 31).

The increase is largely due to the cost of natural gas for electricity generation, which increased by 12 per cent compared with the previous quarter.

For households, the electricity tariff will increase from 20.20 to 21.39 cents per kWh.

This will mean that the average monthly electricity bill for families living in four-room HDB flats will increase by $4.21, for example.

The average increase experienced across all types of housing from one-room flats ($1.58) to bungalows ($28.48) is $5.04.

SP Group reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority, the electricity industry regulator.

GRAPHIC: SP GROUP

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Electricity tariffs to increase from April 1

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SINGAPORE - Electricity tariffs will increase by an average of 6.1 per cent for the second quarter of 2017, the Singapore Power (SP) Group announced on Friday (March 31). The increase is largely due to the cost of natural gas for electricity generation, which increased by 12 per cent compared with the previous quarter.

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With the tariff increase, the average monthly electricity bill for families living in four-room HDB flats will rise by S$4.21, says SP Group.

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SINGAPORE: Electricity tariffs will rise by an average of 6.1 per cent for the next three months, SP Group said on Friday (Mar 31).

For households, the electricity tariff will increase from 20.20 to 21.39 cents per kWh for Apr 1 to Jun 30. This means that the average monthly electricity bill for families living in four-room HDB flats will increase by S$4.21, SP Group said.

"The increase is largely due to the cost of natural gas for electricity generation, which increased by 12 per cent compared to the previous quarter," it said.

SP Group reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA), the electricity industry regulator. The latest tariffs have been approved by the EMA.

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Electricity prices to rise 6.1% for next 3 months

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With the tariff increase, the average monthly electricity bill for families living in four-room HDB flats will rise by S$4.21, says SP Group. Share on Facebook Share on Twitter Share via E-Mail SINGAPORE: Electricity tariffs will rise by an average of 6.1 per cent for the next three months, SP Group said on Friday (Mar 31).

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Households will pay more for electricity from today, with electricity tariffs going up by an average of 6.1 per cent for the second quarter of the year.

From April to June, electricity will cost 21.39 cents per kilowatt hour, up from 20.20 cents in the previous quarter.

"The increase is largely due to the cost of natural gas for electricity generation, which increased by 12 per cent compared to the previous quarter," said Singapore Power Group in a statement yesterday.

Since April last year, the quarterly household electricity tariff has seen an increase except between October and December.

The electricity tariff is largely determined by energy costs, which are costs incurred by power generation and fuel. Energy costs made up 73.2 per cent of the new tariff.

The other components of the tariff are network costs, a market support services fee and a market administration and power system operation fee, which are all reviewed annually.

With the latest tariff increase, the average monthly electricity bill for families living in four-room HDB flats will go up by $4.21. This is based on the average electricity usage of such households, which stands at slightly more than 353kwh.

On average, electricity tariffs will rise by $5.04 per month across the board, according to SP.

Families living in one-room flats can expect to pay $1.58 more per month on average, while those living in bungalows may have to shell out $28.48 more.

SP reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority, the electricity industry regulator.

This includes pegging the cost of fuel to the average natural gas price in the previous three months.

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Electricity tariffs set to increase from today

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Households will pay more for electricity from today, with electricity tariffs going up by an average of 6.1 per cent for the second quarter of the year. From April to June, electricity will cost 21.39 cents per kilowatt hour, up from 20.20 cents in the previous quarter.