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9/30/2008

Paying forward - Electricity tariff 21.5% hike

Oil prices falling but Singaporeans are going to face the biggest electricity tariff hike in 8 years. And they are expected to pay 21.5% more for the rest of this year. And Singaporeans should count themselves lucky. The Energy Market Authority CEO Khoo Chin Hean said it could have been worst. Luckily we buy forward and thus only need to pay a smaller hike. Singaporeans got to be thankful. I think we should find a way to buy spot when it is cheap and buy futures when it is cheap. Can there be a way that does not restrict the buyers to just buy future when it is high despite cheaper spot price? Storage and delivery?

5 comments:

Anonymous said...

The PAP govt is helping out with the payment of utilities. I think that is a good thing.

redbean said...

yes, keep on helping. and keep on raising tariffs and whatever.

gacktan said...

behold our Golden age!

Anonymous said...

It seems that non-sense reasons and statements are quite the norm nowadays.

They are not sensitive nor sensible, price of oil is under USD 100 per barrel at the time of this posting.

patriot

redbean said...

they have adopted a policy to buy forward and there are no contingency plans to buy spot when spot is cheap. this is the best they can do. and it is the best for the consumers.

the consumers are lucky or they would have to pay more. truth or tooth?