- Singapore's grid operator, SP Group, announced that household power bills will increase by 17% to a record 31.91 Singapore cents per kilowatt hour for the July-to-September period.
- The price hike is attributed to the secondary effects of the US-Iran war filtering through the energy market, even as direct regional tensions begin to subside.
- This new tariff exceeds the previous historical peak of 30.17 cents recorded in the third quarter of 2022 following the invasion of Ukraine, making it the highest rate since at least 2014.
Quotes
“The charge will rise 17% to 31.91 Singapore cents (25 US cents) per kilowatt hour for the July-to-September period”