SINGAPORE - Electricity tariffs are going down for the third quarter of the year by an average of 0.67 cent per kilowatt hour, SP group said in a statement on Friday (June 30).

For the period from July 1 to Sept 30 this year, the tariffs will decrease by an average of 3.2 per cent from the previous quarter, from 21.39 cents per kwh to 20.72 cents per kwh.

The lower tariffs are due to the lower cost of natural gas for electricity generation, which fell by 7.5 per cent from the previous quarter.

This means the average monthly electricity bill for families in four-room Housing Board flats will go down by $2.55.

SP Group reviews the electricity tariffs quarterly based on guidelines set by the electricity industry regulator - the Energy Market Authority.

The electricity tariff is made up of four components: Energy costs paid to generation companies; network costs paid to SP PowerAssets; market support services fee paid to SP Services; and the market administration and power system operation fee, paid to the Energy Market Company and Power System Operator.