29 Mar '11, 10am

Singapore electricity rates to rise by 6.5% from April 1

Electricity tariffs in Singapore will increase by an average of 6.5 per cent starting April 1. -- ST PHOTO: ALPHONSUS CHERN SINGAPORE - ELECTRICITY tariffs in Singapore will increase by an average of 6.5 per cent starting April 1 to reflect the higher cost of fuel, the city-state's main electricity retailer said on Tuesday, adding to inflationary pressures in the city-state. SP Services, a unit of Singapore Power, said the higher price of electricity follows a 14 per cent rise in fuel oil prices to $113.37 per barrel over the last three months that was partially offset by a 3 per cent drop in network charges. Singapore's consumer price index rose by 5 per cent in February from a year ago, below January's 5.5 per cent increase, but economists warn inflationary pressures remain strong in the city-state due to strong domestic demand as well as higher commodity prices. The gov...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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