It is not a surprising fact that today most of our lives have become increasingly reliant on electricity. Even our tiniest jobs are completed with the assistance of electricity, making life much easier. Because of this, we tend to use electricity 24/7 in our everyday lives. Due to this overconsumption, we are now seeing a linear rise in the price points. Although electricity pricing depends on numerous factors, demand is undoubtedly the most influential one. With other factors like availability, average usage amount, infrastructure, taxes, distribution, geological factors, weather, etc. in mind, the general concept of electricity tariff was created.
What Is The Electricity Tariff ?
Tariff represents the sum of revenue a customer must pay to have electricity delivered to their residence. The overall cost of electricity is calculated using a tariff system that considers several criteria. The Energy Market Authority (EMA) in Singapore regulates electrical tariffs, which are updated quarterly to fit the changing electricity costs.
If you are paying under electricity tariff singapore then you need to follow the rules, regulations, and instructions given by the government of Singapore. Electricity in Singapore is largely created with the help of imported natural gasses causing the prices of electricity tariff Singapore to be much higher than average and is said to be increasing more in the near future the existing electricity rate is 27.94 cents per kWh (excluding GST). Aside from the above-stated factors, this significant price increase is also the direct result of inflation.