Good news for your wallets: electricity bills are getting cheaper this quarter
Why the drop?
SP Group just announced that for October‑December, the cost of each kilowatt‑hour (kWh) will fall by 0.79 cent, an average 3.3 % reduction from the previous three‑month period. The main driver? Natural gas prices have dipped, which means power plants can churn out electricity at a lower cost.
What it means for you
- Household tariff (pre‑GST): goes from 24.22 cents to 23.43 cents per kWh.
- Typical family bill in a 4‑room HDB flat: drops by about $2.84 per month.
- These prices are the lowest we’ve seen since the quarter ending December 2014, when the rate was a high of 25.28 cents before GST.
How often do we get these changes?
SP Group reviews and adjusts tariffs every three months, following guidelines set by the Energy Market Authority. The latest pricing was just approved, so the savings actually hit your bill now.
So next month, when you pull the meter and see the new number, you’ll get an extra sigh of relief: your energy expenses are a little lighter, and you’re one step closer to keeping your finances humming smoothly.
