Lower electricity tariffs due to lower cost of natural gas

Electricity tariffs will fall by an average of 2.9 per cent for the period July 1 to Sep 30.

This tariff reduction is due to the lower cost of natural gas used for electricity generation, which fell by 5.1 per cent compared to the previous quarter of this year, said a statement by SP Services on Friday.

For the third quarter of this year, the electricity tariff for households will decrease by 2.8 per cent from 26.70 to 25.95 cents per kWh. The average monthly electricity bill for families living in four-room Housing Board flats will decrease by $3.08.

SP Services reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA), the electricity industry regulator.