Singapore Number 2 in Raising Electricity Tariffs

well..it cant be changed...we operate on capitalism...

hopefully, the profit being generated are being pumped back into the economy vis a vis green projects, cleaner energy, subsidies for needies.

in my point of view, we are seriously lacking in the clean and green aspects. we can definitely do much more.

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.

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!

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 =)

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?

excuse me, it is better than world class.

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.

1234, you must be from SP Services!

haha...nope. but i have friends at powergrid who explain have explained to me the reality of the situation

[quek]

Our electricity tariff is going to go up up up again...
channelnewsasia.com - Household electricity tariff to go up from July 1