ELECTRICITY tariffs for households will be cut by about 25 per cent for January to March, in line with lower fuel oil prices.
Households will pay 22.93 cents per kilowatt hour for the next quarter, from the current 30.45 cents following October's sharp 21 per cent spike.
This the first fall since April last year sharper than first since April 2007, following a 40 per cent slide in fuel oil prices, which the price of electricity here is pegged to.

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THANK GOD for this. My electricity bills this month was 500+...

Somehow, I think that the 25% drop is still insufficient... With the oil prices now below US$46 a barrel now, pegging the forward fuel oil price at $92.99 still sound very high. With the economy not looking like it'll pick up in the near future, and a lot of company are either retrenching employees or cutting wages, the drop should be bigger.

good news. Hopefully I will be less paranoid about everything (Fan. led. light, bulb, modem) in my house and can maybe afford some air con for one or two days when it's hot.

For the next quarter, tariffs are pegged to a lower forward fuel oil price of $92.99 per barrel, against $155.14 per barrel for this quarter, said the Energy Market Authority (EMA) on Thursday.
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Where the $92.99 figure came about when December month trading has not ended? Thought that EMA using quarterly forecast, so Jan - Mar 09 tariff was using the data from Sep - Nov 08 period or Oct - Dec 08 period? By the way, as of today now 2.20 pm Singapore time, oil prices was being traded at around $45(US$)range.

EMA care to share more with us residents of Singapore on how the $92.99 came about? Was it a panel of experts doing the calculations and arrived at an agreed tariff point collectively or the final deciding figure is actually in the hand of one person, the chairman of EMA maybe?

Or could it be a minister in the government?

Please give me the name(s) of the signature(s) that approved Singapore electricity tariff for the next quarter period should be $92.99, I'm interested to know who is who? When giving us name(s), please provide job title(s) as well as his/her/their credential in oil trading too.

Afterall, not forgetting that Singapore electricity was generated by 80% natural gas, which uses oil prices as pricing benchmark.

#5... hopefully it was not another case similar to the last Singapore President election where 3 wise man from the election department deciding on behalf of 4+ millions of Singaporeans in rejecting a Mr Kuah , I think so, in contesting against SR Nathan for the President post, without giving out valid reasoning point by point to the qualifying criterion.

EMA, how about providing a detail breakdown on how the $92.99 came about... example XX% of water; XX% of air; XX% of sun; XX% of *#@< ... you copy my message, EMA?

Can anyone help me to understand??

Why the peg is $92.99 per barrel when the price is now at US$45.97 and dropping?? Why is it peg like 50% more??

Any financial expert out there??

Is this taking advantage of the monopolistic postion? EMA must come clean with the exact formula. Call it what you want but to all consumers this is utter Robbery !

It is, Layperson and SSTaxPayer. What can we say or do? They are telling us in the face and says that they WANT our money... What can we do? There is no competition and CASE is so quiet suddenly.

The only say Singaporeans have is during election. Apart from that, we have zero say in how the country is run.