SINGAPORE – Electricity tariffs are set to rise by an average of 3.5 per cent in the first quarter of next year, SP Group said on Monday (Dec 30).

For the period from Jan 1 to March 31, electricity tariffs will increase by 0.81 cents per kilowatt hour (kwh) compared with the previous quarter.

Excluding the goods and services tax (GST), this translates to a rise from 23.43 cents per kwh to 24.24 cents per kwh for households.

This is the highest it has been since the period from October to December 2014, when it was 25.28 cents before GST.

It exceeds the rate of 24.22 cents from July to September this year, the previous highest rate.

SP Group said that the increase is mainly due to higher energy cost compared with the previous quarter.

The average monthly electricity bills for families living in four-room Housing Board flats will rise by $2.76, excluding GST.

SP Group said in its statement that it reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA), which regulates the electricity industry.

The new tariffs have been approved by the EMA, it said.

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