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4/02/2012
April 1 price hike in electricity
SP Services has increased electricity tariff by 4.3% to a new high of 28.78 cents per kWh. It is all due to higher fuel and gas prices. Can’t be helped.
It's because the contract to supply gas to Singapore is based on the thermal equivalent of 6:1 which does not hold any longer. In the US oil is $120 and gas equivalent is $2.50 for a 48:1 ratio. Gas and thus electricity is high because of a bad contract to supple gas which Indonesia and Malaysia are making big, big money on. New LNG terminal is also wildly expensive so don't expect any improvement soon. Singapore pays about twice the rate it should.
9 comments:
We have other important issues to pond(er).
What to do - it happened
Don't forget the GST will also increase based on the increased total bill amount.
Like this some of the GST offset vouchers will also be transferred to SP Services.
>>Don't forget the GST will also increase....
Nvm lah...GST is to help the poor
About the same price as what we've been paying for a year in Perth.
At least S'poreans don't get slugged with a "supply charge".
We have to pay AUD 0.40 per day for "supply". Fuckers.
S'pore fees and charges -- still considered "ok".
Is this their idea of an April Fool's joke?
It's because the contract to supply gas to Singapore is based on the thermal equivalent of 6:1 which does not hold any longer. In the US oil is $120 and gas equivalent is $2.50 for a 48:1 ratio. Gas and thus electricity is high because of a bad contract to supple gas which Indonesia and Malaysia are making big, big money on. New LNG terminal is also wildly expensive so don't expect any improvement soon. Singapore pays about twice the rate it should.
Hi Just the Facts, welcome to the blog.
I think the experts would have done some solid research and know that they are paying a fair market price like in this case, how many times?
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