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Singapore electricity tariffs to rise 5% in Jan-Mar 2024 due to increased carbon tax

From 1 January to 31 March 2024, electricity tariffs for Singapore households supplied by SP Group will see a 5% hike, reaching 32.58 cents per kilowatt-hour (kWh) after the Goods and Services Tax (GST).



SINGAPORE: Singaporeans are set to experience a significant rise in utility costs in the coming months due to a confluence of tax increases and escalating energy expenses.

From 1 January to 31 March 2024, electricity tariffs for households supplied by SP Group will see a 5% hike, reaching 32.58 cents per kilowatt-hour (kWh) after the Goods and Services Tax (GST).

This increase from the current rate of 31 cents is partly attributed to a forthcoming rise in carbon tax, from S$5 to S$25 per tonne of emissions, aimed at steering the nation towards a low-carbon economy.

City Energy, the provider of piped gas, announced a 4% rise in town gas tariffs, now costing 25.23 cents per kWh after GST, compared to the previous 24.21 cents. This change reflects the broader trend of rising energy costs and is expected to affect numerous households.

However, consumers on standard fixed price plans with electricity retailers will not encounter changes in their tariffs until contract renewal, as noted by the Energy Market Authority (EMA).

The EMA also revealed that the average gas price used for calculating electricity tariffs has risen compared to the previous quarter, indicating broader market trends influencing the price surge.

Further compounding the financial pressure on residents, the GST is slated to increase from 8% to 9% in 2024. Additionally, water costs are projected to rise, with a planned increment of 50 cents per cubic meter over the next two years.

In response to the anticipated financial strain, the government has announced that eligible Singaporean HDB households will receive an additional S$20 per quarter in U-Save rebates from January 2024 to December 2025.

This initiative, totalling an S$80 annual increase, is intended to mitigate the impact of the escalating carbon tax and water prices.

This series of hikes comes as Singapore intensifies its efforts to transition to a low-carbon economy. The increased carbon tax is touted as part of a broader strategy to reduce carbon-intensive consumption and production, promote accountability for emissions, and encourage the development of low-carbon solutions.

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BTW, this year all the alternate energy providers stopped offering a “Discounted” scheme, only Fixed schemes with peanut discounts. So not much different for the rate set by EMA/SPG (aka back to a monopolistic market). E.g. previously, I enjoyed a 20% discount from Senoko but now only 1%. So I am paying 20+% MORE for energy in 4Q2023 and into 2024.

Notice EMA very quiet on this, hor.

i really cannot believe we allowing them to charge us for AIR!!! seriously whats next?

Oh and by the way you guys forgot to mention that if you are late to pay or never pay in full your utilities bill, the interest that you will be charged for late payment will be pegged to SORA LOL.

Tmr go change name to ROBERT

Aiyoh, his bliss 5-year retirement plan started right after election day, bo-chap Singaporeans or national issues already. Notice he didn’t even make a public appearance (ie. on state TV or media) wishing the nation and/or Christians for X’mas as is traditional for head of state.

and who the frick decided to carbon tax us? especially after carbon trading totally failed in aussie land? own self sabo own self? total full-retardedness.

Must be oh so pleasing and heartening, … … that all of the lightning rod voters’ new year wishes are coming true !!!

Pretty certain, they don’t need reminding, … that there’s more “goodies” to come !!!

A wonderful and memorable 2024 to be had by all !!!

Havv a great ‘un everybody !!!

For Y2023, crude oil price has dropped about 10.5% and natural gas price dropped a whopping about 37.6%, yet SPGroup electricity tariff decreased by only about 6-7% (comparing Y-on-Y). Looks like SPG is very inefficient in its operations or it is not passing the proportional savings to the consumers.

Absolute nonsense. The ruling government built Singapore’s electricity infrastructure to rely on fossil fuels using taxpayer dollars and then charges taxpayers even more money because of their actions.

Remember, the 70% voted for this. Where is Tharman? So silent all of the sudden. Perhaps still busy moving into his new home from the colonial era?

When the British left Singapore, the ruling party moved in to fill the void. When will Singapore be truly independent I wonder?

Song ah…property tax up up away, GST up..up away…. and now utilities!!!!
2 chickens wings taken already, now not only need to give back 2 whole chickens but….
Need to give back a farm full of chickens!!😆😆😆😆

I think getting upset with such news is really a waste of time. The fact that such an increase is happening amidst an already high cost of living, reflects the G’s utter disregard of Singaporeans’ wellbeing. The G is essentially giving Singaporeans the middle finger. And next budget LW will give Singaporeans crumbs to assuage the anger such increases evoke. The only way to send a message to the G is to vote more opposition in the next GE. With the right result, the G will realise that they cannot treat Singaporeans with contempt and think they can get away… Read more »

Of all the reasons for increased costs, carbon tax is the LEAST justified. It is unnecessary and something imposed simply to make us look good internationally. UNLESS the carbon tax is used exclusively to invest in alternative low carbon energy infrastructure.

lovely…nice… only 5 percent??

Please remove all GST for individuals as we cannot claim back the GST paid like the corporates. Food is already so expensive and now electricity? Didn’t the PAP claim that the increase in population is to reduce the costs for all?

When you are smart making 10s of thousands of dollars a month, 5% increase is nothing. Go upgrade yourselves to get better pay. Government has created many channels for you to do so. Only lazy losers like those oppies will not go upgrade themselves. They make noise everyday online asking the government to breastfeed them. Shameless idiots!

Yah all go JB and set up shop to continue scamming so come here and criticise Sgrean again …

Just like the Loong … See Sgrean no UP whole day recruiting Foreign Talents to Prop his empire using State Resources. No?!?

I am NOT your entity so dun need to keep sending me Subliminal Msg!

Singaporeans are definitely dumb fools.

Yes, win PISA ( International primary school awards )
Yes, win wealthiest city accolades
Yes, win safest city to live
Yes, win accolades for least corrupt ( note: “least”… does not mean no corruption)
Yes, win media awards (SPH)

But keep on paying for these “awards”
Stupid, dumb, idiots Singaporeans.
Malaysians are laughing
Indonesians are laughing
They just dont laugh in front of you.

Dumb fucks.

It’s so easy to announce to the world that SG will meet or exceed its carbon emission reduction by 2050 when the costs are simply passed onto Singaporeans. Like our NEWater. Why PUB can claim it achieved it at a lower cost than elsewhere? Because the water runout from our construction sites are mandated to go through near ultra-filtration before it is allowed by law to be discharged into our drainage system. Hence a large bulk of the upstream sources for Newater is already pre-filtered (of course there will be further treatments by PUB, but maybe half the work is… Read more »

As much as in recent times, the world sits up to see how ez Sheeps in SG falls prey to cheap thrills driven in Huge Part Unmistakably by their PAP-molded, years of uncritical unthinking shallow brains.

In fact Sheeps still sleeping, not sitting up to realise, and to act, this PAP Administration IS THE BIGGEST SCAMMER for 50 good years.

What economic freedom we read about? Economic bull.

Majority of the Stupid and retarded Singaporeans will come out to the Singapore PAP media and said it is affordable

Another question. Why sell away a few of our national essential assets like power plants to foreigners? Shouldn’t a small country like SG preserve these critical infrastructures?

Salute them for secretively keeping Sheegaporeans so bloody dumb, frantically building up savings in Double Quick Time to REPLENISH HUGE HUGE LOSSES of National Reserves by TH.

Another persecution of Singapreans with the granted eazy mandate.
For the people? Big Balls. Next chapter, moving forward, no more 5Cs. F these people who author such statements.

What is NEW? Every so often and PM Lee still continue to say he was Hacked?!? O please WHO can ever hack him with Deepfake?!? Every thing on this island is the Man making …

What can Sinkies do than suck it up?

Life goes on even after GE2025 keeping the status quo with a stoic 60%.

For those who still clap hands for the incumbent, you are getting cooked like a frog in fast boiling water but unaware.

Here increase a bit, there increase a bit, then increase a bit more here and increase there a bit more. By the time you noticed it, you’re already 100% cooked