The electricity tariff in Singapore is the price you pay for the electricity you use, measured in kWh. The price depends on what time of day and day of the week it is, who your electricity company is, and whether you have a low income. Visit this for more information https://www.keppelelectric.com/.
Factors that affect Singapore’s electricity tariff
- Time of Use
The Singapore electricity tariff is segmented into two different price bands. The first band is for off-peak hours, which is from 7 am-7 pm on weekdays and all day weekends and public holidays. The second band is for peak hours, which is from 7 pm-7 am on weekdays and all day weekends and public holidays.
- Day of the Week
At certain times of the year, there are more people using electricity than at other times of the year. For instance, during the Christmas season or the peak commuting hours to work (during rush hour).
- Time of Day
Singaporeans usually turn on and off their appliances at night to save money on electricity. When the usage is more, and a lot of people are using power at night, the price of electricity goes up as a result.
- Consumer profile
Singaporeans who have low incomes have to pay subsidized prices for their electricity bill. The subsidy rate is lower during off-peak hours (weekday mornings) and higher during peak hours (weekday afternoons). The subsidy rate has been lowered before by the Singapore government in the past. However, this reduction in subsidized rates is yet to take effect as most Singaporeans are still paying subsidized rates.
- Electricity Company
All electricity companies in Singapore sell electricity to the national energy market, but how much they will charge you is still up to them. The best thing you can do if you want to save money on your electricity bill is to shop around for an electricity company that charges cheaper rates.
You can save money on your electricity bill by using energy-saving appliances, switching off all appliances when you are not using them, and choosing an electricity company that has cheaper rates.