This increase is due to rising fuel costs, which went up by 4.3 per cent compared to the previous quarter, said a statement by SP Services on Monday.
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Read the full statement from SP Services here:
For the period from 1 Oct to 31 Dec 2013, electricity tariffs will increase by an average of 0.5 per cent or 0.12 cents per kWh. The higher tariff is due to an increase in fuel costs of 4.3 per cent compared to the previous quarter. The quantum of the increase is mitigated by a reduction in non-fuel costs; otherwise the tariff would have gone up by 2.2 per cent.
For households, the electricity tariff will increase from 25.95 to 26.08 cents per kWh in Q4 2013. The average monthly electricity bill for families living in four-room HDB flats will rise by $0.55 (see Appendix 3 for the average increase for different household types).
SP Services reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA), the electricity