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09-11-2008, 08:33 PM
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3192
The way I see it, its counter-intuitive that electricity tariffs have to be hiked substantially (+21%) when HK reduced its tariff and the price of commodities in general continued its downtrend.
I don't subscribe to the argument that it is for maximising profits. What I would hazard a guess is that they could have entered into a financial hedge at the height of the rally in commodities prices earlier and now that commodities prices have dropped, they found themselves in an unfortunate situation where they have locked in at higher prices hence the pass through to consumers.
We will never know unless the full details of SP Services' financial statements are published, I guess.
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24-11-2008, 12:32 PM
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3425
whatever it is, many people cannot afford to pay the increase. im guessing many affluent SINs drop by this website but i worry for lower income families or single old aged folk. the subsidies given to them arent that great either. AND my GRC just lost over $2m in mini bonds.jus wana say dats $$ dat can be better spent!
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06-12-2008, 09:06 AM
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3547
for those who are still unclear, SP services does not set the price. the energy mkt authority (EMA) does so. SP services only collects the money, pay back the generation companies (gencos) and pay SP powergrid (who runs the transmission and distribution network).
i think some many Singaporeans are pointing their fingers at the wrong person =)
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06-12-2008, 09:34 AM
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3549
goes to show how vulnerable we all are. since both ema and sp are players at the top of the food chain, i'm sure they can do something to pre-empt the problem and not just sit there. now that the problem has happened, instead of fixing it, they are still sitting there, at best giving lame excuses eg it's 'standard practice' to use oil prices. or maybe they're so incompetent to think that there's no problem at all? then why pay them world-class salaries to just sit there?
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06-12-2008, 10:10 AM
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3550
excuse me, it is better than world class.
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06-12-2008, 01:38 PM
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3551
i will reiterate...SP services is not at the top of the food chain (nor anywhere near the top), it just charges consumers whatever EMA states. even the proportion of the charges that SP keeps to maintain the grid, etc is regulated by EMA. this whole thing is EMA's doing and i think they should sort themselves out cos they're doing a bad job.
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06-12-2008, 02:21 PM
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3553
1234, you must be from SP Services!
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06-12-2008, 06:23 PM
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3556
haha...nope. but i have friends at powergrid who explain have explained to me the reality of the situation
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01-07-2009, 12:20 PM
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