While Malaysians continue to grapple with rising costs of living, those living across the Causeway will now have something to look forward to in their electricity and gas prices.
This comes after grid operator SP Group and City Energy announced in a press release on Dec 30 that consumers will enjoy lower electricity tariffs from Jan to Mar 2025, reported The Straits Times (ST).
SG reduces electricity and gas prices for Q1 of 2025
According to the press release, the move comes after SP Group reported that there was “lower energy and fuel costs.”
As such, consumers will see a 3.4% decrease in their electricity tariff, where households will only pay 28.12 cents per kilowatt-hour (kWh) before goods and services tax (GST), compared to the current rate of 29.10 cents.
In Singapore, the electricity tariff is calculated based on four components:
- Energy costs paid to companies which generate energy
- Network costs for transporting electricity through the power grid
- Market support services fees paid to SP Group
- Market administration and power system operation fee
Mothership reported that with this incoming decrease in electricity tariff for Q1 2025, it makes it the second consecutive quarter to see a drop in household electricity tariff.
The previous time where Singapore lowered the tariff was in Q3 2023, where the rate was 27.74 cents.
As for gas prices, City Energy revealed that rates will drop from S$22.97 cents per kWh to S$22.72 cents per kWh for the first quarter of 2025, before GST.
Meanwhile in Malaysia, electricity tariffs are set to go the opposite direction next year:
