Singaporean households living in HDB flats will receive U-Save rebates in January 2024 to offset their utility including electricity bills, as part of the permanent GST Voucher (GSTV) scheme and the Assurance Package, to help defray GST and provide cost-of-living support for lower- to middle-income households.

Electricity tariffs (before GST), including tariffs for non-households, will increase by an average of 4.3% or 1.18 cents per kWh compared with the previous quarter.

SP Group reviews the electricity tariffs every quarter based on guidelines set by the electricity industry regulator, Energy Market Authority (EMA).

Please refer to Appendix 1 for the components of the electricity tariff, Appendix 2 for the tariffs approved by EMA, and Appendix 3 for the average monthly electricity bills for households.

Appendix 1

BREAKDOWN OF ELECTRICITY TARIFF

1. The electricity tariff consists of the following four components:
   1. Energy costs (paid to the generation companies): This component is adjusted quarterly to reflect changes in the cost of power generation.
   2. Network costs (paid to SP PowerAssets): This fee is reviewed annually.  
   3. Market Support Services Fee (paid to SP Services): This fee is reviewed annually.
   4. Market Administration and Power System Operation Fee (paid to Energy Market Company and Power System Operator): This fee is reviewed annually to recover the costs of operating the electricity wholesale market and power system.

Q1 2024 TARIFF (before 9% GST)

Appendix 2

ELECTRICITY TARIFFS FROM 1 JANUARY 2024

Appendix 3

AVERAGE MONTHLY ELECTRICITY BILLS OF DOMESTIC CUSTOMERS 
(TARIFF WEF 1 JANUARY 2024) (before GST)