Wednesday September 26, 2007

Singapore : Electricity price increase - 2007Q4

This article belongs to the Singapore inflation watch story arc.

Thanks to Simon Tay for the heads-up :

singaporepower.com.sg (chart) :

For the quarter 1 Oct to 31 Dec 07, the electricity tariffs will be increased by an average 4.29% or 0.86 cents per kWh due to the higher cost of electricity arising from higher fuel oil prices.

For the period 1 Oct to 31 Dec 07, tariffs are pegged to a higher forward fuel oil price of US$58.06 or S$87.46 per barrel. The forward fuel oil price is 12.91% higher than that of US$51.42 or S$77.45 per barrel for the current quarter. The electricity tariff is reviewed quarterly and adjusted accordingly in line with the fluctuation in the cost of electricity.

- For residential electricity, the new rate will be 21.38 cents per KWh compared to the current rate of 20.52 cents per KWh. No surprise to peakoilers, really. We've been up and down around the $75 level for this past quarter (2007Q3), and it was about $65 the quarter before that (2007Q2). Let's see if that hits $85 for this coming quarter. That will happen if NYMEX crude bounces between the $80 to $90 levels.

If you're talking inflation, that's a 4.19% increase over a quarter. But before you yell at gov.sg, consider that the crude oil price has gone up roughly 15% over the same period, which more or less tallies with the benchmark they use, the forward fuel oil price, which as they said is up 12.91%.

Side note : You know what, somehow I don't think gov.sg will want to do this for much longer - i.e. dampening the price movements for the benefit of the people.

Updated :

1. Singapore electricity rates to increase 4.98% from Jul 2008
2. Singapore : electricity tariffs to increase April 2008 on rising oil prices

(2007-09-26 12:57:31 SGT) [Energy] Permalink

Most popular blog postings on lowem.log :

1. Singapore MRT rail network length to double by 2020
2. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
3. Live spot gold price quotes chart on COMEX
4. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
5. AVG Anti-Virus Free Edition 2011 direct download link
6. Real-time live gold and silver price quotes chart on COMEX
7. Singapore electric vehicles : Government agencies EMA and LTA to study EV introduction
8. Book review : Shut Down by William Flynn

Featured articles on lowem.log :

1. Book review : Shut Down by William Flynn
2. Singapore electric cars testing starts with 9 electric vehicles
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
4. 2010 Honda Civic Hybrid preliminary specifications released
5. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
6. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore : Nuclear power not ruled out