Singapore electricity tariffs hit record high
Household electricity tariffs in Singapore for the July-September quarter rose to a record high of S$0.3191 per kilowatt-hour, up 17% from the April-June quarter. The Energy Market Authority (EMA) announced the increase in late June.
The rise was driven by persistently high international fossil fuel prices amid escalating tensions in the Middle East. Electricity tariffs in Singapore are reviewed on a quarterly basis. Tariffs for each quarter are calculated based on fuel prices during the first two and a half months of the preceding quarter. Accordingly, the July-September tariffs are based on fuel prices from Apr 1 to Jun 15.
Singapore's power generation sector relies on natural gas for approximately 95% of its fuel supply. EMA is a government agency under the Ministry of Trade and Industry responsible for regulating and supervising Singapore's energy markets and ensuring stable energy supply.