Singapore's Household Electricity, Gas Bills to Continue Climb in Q1 on Higher Tariffs, GST Increase

The Business Times2023-12-29

Household bills for electricity and gas are set to rise in the first quarter of 2024 amid rising energy costs, a jump in the carbon tax and an increase in the goods and services tax (GST) rate....

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1109187375?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-12-29 13:17","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1109187375","market":"sg","top_or_hot":-1,"title":"Singapore's Household Electricity, Gas Bills to Continue Climb in Q1 on Higher Tariffs, GST Increase","media":"The Business Times","content":"<div>\n<p>Household bills for electricity and gas are set to rise in the first quarter of 2024 amid rising energy costs, a jump in the carbon tax and an increase in the goods and services tax (GST) rate....</p>\n\n<a href=\"https://www.businesstimes.com.sg/singapore/household-electricity-gas-bills-continue-climb-q1-higher-tariffs-gst-increase\">Source Link</a>\n\n</div>\n","source":"lsy1607307803821","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore's Household Electricity, Gas Bills to Continue Climb in Q1 on Higher Tariffs, GST Increase</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore's Household Electricity, Gas Bills to Continue Climb in Q1 on Higher Tariffs, GST Increase\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-12-29 13:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/singapore/household-electricity-gas-bills-continue-climb-q1-higher-tariffs-gst-increase><strong>The Business Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Household bills for electricity and gas are set to rise in the first quarter of 2024 amid rising energy costs, a jump in the carbon tax and an increase in the goods and services tax (GST) rate....</p>\n\n<a href=\"https://www.businesstimes.com.sg/singapore/household-electricity-gas-bills-continue-climb-q1-higher-tariffs-gst-increase\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"STI.SI","symbol_name":"富时新加坡海峡指数","start_time":0,"source_url":"https://www.businesstimes.com.sg/singapore/household-electricity-gas-bills-continue-climb-q1-higher-tariffs-gst-increase","article_id":"1109187375","we_media_id":null,"thumbnails":[],"rights":{"source":"lsy1607307803821","url":"https://www.businesstimes.com.sg/singapore/household-electricity-gas-bills-continue-climb-q1-higher-tariffs-gst-increase","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1109187375","pubTimestamp":1703827075,"columns":[],"sourceInfo":{"source_id":"lsy1607307803821","name":"The Business Times"},"weMediaInfo":null,"summary":"Household bills for electricity and gas are set to rise in the first quarter of 2024 amid rising energy costs, a jump in the carbon tax and an increase in the goods and services tax (GST) rate.Electri","collect":0,"end_time":0,"defaultTopTitle":"businesstimes.com.sg","property":[],"viewcount":null,"language":"en","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"translate_title":"新加坡家庭电费、煤气费继续攀升，Q1关税上调，商品及服务税上调","themeId":"8dd8b3510ee24ff1ba7734bf3b11b502","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"STI.SI":1.1},"content_text":"Household bills for electricity and gas are set to rise in the first quarter of 2024 amid rising energy costs, a jump in the carbon tax and an increase in the goods and services tax (GST) rate.Electricity tariffs after GST are expected to go up by 4.8 percent to 32.58 Singapore cents kilowatt-hour (KWh), from 31 cents previously. This comes as the GST rate rises to 9 percent from 8 percent.Singapore’s Energy Market Authority on Friday (Dec 29) announced an increase in tariffs for both electricity and gas.Town gas tariffs post-GST will increase by 4.2 percent to 25.23 cents per kWh from 24.214 cents per kWh.City Gas attributed the rise in gas tariffs to higher costs compared with the previous quarter.The electricity tariff rate will apply only to consumers who buy electricity directly from SP Group at the regulated tariff, and not those on standard fixed-price plans with electricity retailers.SP Group estimates that the average monthly electricity bill for families living in Housing Development Board four-room flats will go up by S$4.39 before GST, it said in a separate release.Including tariffs for non-households, electricity tariffs will rise by an average of 4.3 percent or 1.18 Singapore cents per kWh compared with the previous quarter, before GST.The amount of electricity tariffs payable by consumers will also include carbon tax, which will be raised to S$25 per tonne of emissions from S$5 previously.The increase in carbon tax also contributed to the rise in electricity tariffs for Q1, EMA noted.Energy costs, paid to generation companies, comprise 77.5 percent of the Q1 electricity tariff. This will increase by 1.19 Singapore cents per kWh in the coming quarter.The other components contributing to the overall electricity tariff – network costs, market support services fee, as well as the market administration and power system operation fee – will remain unchanged.To cushion the impact of GST and carbon tax increases, eligible Singaporean HDB households will receive an additional S$20 per quarter of U-Save rebates from January 2024 to December 2025, said the Ministry of Finance in September 2023.Both SP Group and City Energy review tariffs quarterly, based on guidelines set by the Energy Market Authority.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":7,"commentSize":0,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1109187375"}