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.
Here's to more price increases in the New Year, and a proportionate increase too in "MRT track falling" incidences :P
ReplyDeleteThey have to factor in the future increase in the price of oil—even though they may have bought futures to hedge against future price increases. Every well-run business will do this.
ReplyDeleteInflation is a monetary phenomenon.
23.62% : Singapore M3 money supply growth
The people get the government they deserve, and that government sets the monetary policy. It is not the fault of business. As usual, it is the government that is at fault.