Chinatown shopping for the lunar New Year. Taken on 5 Feb 16.
Next month electricity rate will go up by 6%. Add another 7% for GST, hmmmm, still less than 6.5% in total. Not bad.
What would it cost to the hardlanders? Between $1 to $10 more per month. Definitely affordable.
Oh, according SP Services, the hike is 'pegged to a higher forward fuel oil price of $96.64 per barrel,' which means that it is charging higher first in anticipation of a higher oil price. Makes good business sense and definitely will improve the bottom line.