New Year with many benefits coming through. We bet you didn’t know about this good news.
What’s the news? After enduring a year of rising electricity bills, consumers will see some glimpse of light on this new year. Why? This is because the Utility provider SP Group has announced that consumers will see a decrease in their electricity bill compared to the previous quarter in a recent press statement.
This will be effective starting from 1 January to 31 March 2019, where the electricity tariffs (before 7% GST) will decrease by an average of 1.2% or 0.28 cent per kWh compared to the previous quarter.
If you’re wondering why is this happening. This is mainly due to the lower cost of natural gas for electricity generation compared to the previous quarter.
For households, the electricity tariff (before 7% GST) will decrease from 24.13 to 23.85 cents per kWh for 1 Jan to 31 March 2019. The average monthly electricity bill for families living in four-room HDB flats will decrease by $1.00 (before 7% GST).
If you need the estimation of the average monthly electricity bill that consumers can expect to pay based on the type of home they occupy, SB Group has actually release the below for your reference.
If you need more details, you can check out here to find out more details regarding on this reduction
Doesn’t really matter what’s the reason but it’s always good to hear price drop especially when it’s come to something common and beneficial to us! Hoping more good news to come in 2019!