Energy Price Drop as Electricity Tariffs Decrease for Jan-March 2025

Households in Singapore can expect lower electricity and gas bills in the first quarter of 2025, thanks to a decline in energy costs.

Electricity Tariffs Drop

SP Group, Singapore’s grid operator, announced a 3.4% reduction in electricity tariffs for January to March 2025 compared to the previous quarter. The new tariff stands at 28.12 cents per kilowatt-hour (kWh) before GST, down from 29.10 cents.

For an average 4-room HDB household, this means an approximate $3.58 reduction in monthly electricity bills before GST.

How Electricity Tariffs Are Calculated

The electricity tariff comprises four components, including:

Cost of Energy: Reflects the price of imported natural gas.
Power Station Operating Costs: Covers the generation of electricity.
Network Costs: Maintenance and operation of the grid infrastructure.
Market Support Services Fee: Administrative costs for electricity supply.

The drop in energy tariffs reflects a decrease in the cost of imported natural gas, a key input for Singapore's electricity generation.

Gas Tariffs Follow Suit

City Energy, which supplies piped gas, also announced a reduction in gas tariffs. The new rate is 22.72 cents per kWh before GST, slightly lower than the previous 22.97 cents. After GST, the revised rate amounts to 24.76 cents per kWh.

Savings for Households

While the reductions may seem modest, they provide some relief for households, particularly as energy prices have been volatile in recent years. The adjustment reflects Singapore’s careful management of energy resources and efficient supply chain operations.

What’s Next?

Households are encouraged to monitor their energy consumption and make use of energy-efficient appliances to further save on utility bills. These tariff reductions may provide a good opportunity to invest in sustainable solutions, such as LED lighting and energy-saving air conditioning.

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