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Singapore Electricity Price 2022

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Singapore is recognized to be a very expensive and modern country; hence, many people think that Singapore also has one of the world’s highest electricity bills.

Little did they know that natural gas accounts for approximately 95% of Singapore’s electricity generation, and that benchmarking studies regularly commissioned by the Energy Market Authority (EMA) show that Singapore’s regulated tariff for households is actually comparable to that of similar cities around the world.

The great thing about living in Singapore is that you won’t have to worry about your electricity bills because the government do help low-income households with subsidies like the U-Save GST Voucher.

So, if you are planning to move to Singapore and don’t know how much the cost of living here is, this article is a good read for you because we will provide you with some information and facts about the electricity bills in Singapore to help you better understand how bills like electricity operate in Singapore.

Without further ado, let us get started!

How much does electricity cost in Singapore per month?

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Image credit: @genecosg

Average Cost of Monthly Singapore Power (SP) Bills – Singapore Electricity Price

To begin, let us go through how much electricity will most likely cost you in Singapore on a monthly basis.

If you are unfamiliar, Singapore Power (SP) supplies the majority of essential utilities for consumers, including power, gas, and water.

Furthermore, according to our research, the typical SP bill was largely made up of power bills; electricity accounted for around half of an average SP bill, while water services accounted for the remaining 40%, and gas services cost the least, accounting for only 10% of an average bill.

As a result, the average cost of SP bills varies by residence size; so, we’ve prepared a breakdown of an average monthly SP bill by residence size:

Residential TypeJune 2022 Average Electricity Consumption (kWh)June 2022 Utility Bill Average (SGD) – with gasJune 2022 Utility Bill Average (SGD) – without gas
HDB 1 – room150$79.24$69.77
HDB 2 – rooms199$93.05$83.30
HDB 3 – rooms276$114.84$101.94
HDB 4 – rooms380$133.75$117.99
HDB 5 – rooms445$141.09$123.97
HBD Executive543$157.10$138.89
Apartment576$168.34$148.49
Terrace865$251.12$226.36
Semi-Detached1,174$320.38$292.76
Bungalow2,403$632.38$587.01
Average Cost of Monthly Singapore Power (SP) Bills in Singapore

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Is Singapore electricity cheap?

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Image credit: @genecosg

Is electricity in Singapore cheap? – Singapore Electricity Price

Singapore’s tariffs are neither the highest nor the lowest; this is due to several reasons.

Singapore, on the other hand, is a country with no natural resources; we import about 95% of our energy needs, for which we pay global prices.

Since September 2021, the world has been facing an energy crunch arising from unexpected strong demand for energy and a number of supply disruptions.

Singapore is not spared from the global energy crunch and changing market landscape.

As a result, our electricity prices have been impacted.

Thus, Singapore does not subsidize electricity prices as this benefits those who use more electricity.

This is not sustainable in the long run given that our fuel is imported and subject to global pricing.

Instead, we seek to keep electricity prices fair and reasonable through regulation and market competition.

Thus, the Government supports lower-income households through quarterly U-save rebates.

Related: Is Singapore a Cheap Place?

Why is the electricity bill so high in Singapore?

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Image credit: @genecosg

Why is the electricity bill so high in Singapore? – Singapore Electricity Price

Since July 2021, Singapore’s electricity rates have risen in step with growing global energy costs, owing in part to the reopening of economies, which has resulted in a boom in demand from both Asia and Europe, as well as a supply issue from production nations.

Over the same time period, Singapore Power’s regulated tariff for families increased by 8.8%, or 2.06 cents per kWh.

The price rise was significantly greater for those who re-contract with an open energy market (OEM) retailer.

For example, prices given by OEM merchants for a 1-year fixed pricing plan increased from 17 to 19 cents before July 2021 to 27 cents presently.

This equates to an approximately 50% rise for customers.

Our power bills are not subsidized because we are a city with no natural resources.

As a result, we must take additional steps to better control our energy bills.

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Will electricity prices go up in Singapore?

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Image credit: @genecosg

Will electricity prices go up this year in Singapore? – Singapore Electricity Price

Singapore’s power costs have risen as a result of both rising global energy prices and tight supply circumstances.

International demand for natural gas increased more than predicted when global economies reopened following the impact of COVID-19.

Local supply was disrupted owing to pipeline gas problems from West Natuna and decreased gas landing pressure from South Sumatra.

How is the electricity bill calculated in Singapore?

To determine how much energy you use, use the following calculation:

1000 = daily kilowatt-hour (kWh) usage (wattage hours utilized per day)1 kilowatt = 1,000 watts (kW)

The annual consumption in kWh per year is obtained by multiplying this figure by the number of days the appliance is used each year.

Who has the cheapest electricity rates in Singapore?

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Image credit: @genecosg

Which is the cheapest electricity provider in Singapore? – Singapore Electricity Price

SP Group’s regulated electricity tariff is presently 32.28 cents per kWh from 1st of July 2022 to 30th of September 2022 (including GST).

The increase is mostly due to higher energy expenses as a result of rising global oil and gas prices, which have been exacerbated by the Ukraine situation.

Consumers in Singapore can now choose from a total of eight energy providers through the OEM.

Below, we share more about the cheapest energy providers in Singapore and their unique features.

Energy RetailerWhy we like it?Fixed Price (per kWh, incl. GST)
PacificLightThey have more plans available29.68¢ + 50¢ daily charge
Cheapest no contract electricity plans in Singapore

Energy RetailerWhy we like it?Fixed Price (per kWh, incl. GST) 
GenecoGuaranteed price match29.80¢
SunseapThey offer solar-powered plans.41.73¢
Union PowerWhen you switch to this provider, you will not be charged a security deposit or a registration fee.48.15¢
Cheapest 6 months contract Electricity Retailers in Singapore

Energy RetailerWhy we like it?Fixed Price (per kWh, incl. GST) 
Keppel ElectricIf you acquire one of their plans, they will provide you with a free Microgreen Kit.29.88¢
Senoko EnergyRenewable solar energy is included in all of their electricity plans.29.20¢
Sembcorp PowerAll of their electricity plans are more environmentally friendly.29.88¢
PacificLightThey have more plans available29.80¢
GenecoGuaranteed price match29.20¢
Cheapest 12 months contract Electricity Retailers in Singapore

Energy RetailerWhy we like it?Fixed Price (per kWh, incl. GST) 
GenecoGuaranteed price match28.80¢
Senoko EnergyRenewable solar energy is included in all of their electricity plans.28.80¢
PacificLightThey have more plans available29.68¢
Keppel ElectricIf you acquire one of their plans, they will provide you with a free Microgreen Kit.29.88¢
Tuas PowerIf you acquire one of their electrical plans, they will automatically provide you with a free 12-month insurance package.29.79¢
Cheapest Electricity Plan for 24 months in Singapore

Overall, consider your preferences, budget, and home electricity use before settling on an energy provider’s electricity plan.

Retailers in the OEM attempt to provide competitive rates based on SP Services’ quarterly reviewed regulated electricity tariff.

Other things to think about? Credit card rebates, referral rebates,. promo codes and each retailer’s unique value proposition.

Your electricity bills will be lower if you make the switch.

Will electricity prices go up in 2023?

Based on our research, the EMA will prolong the Temporary Electricity Contracting Support Scheme, as well as a number of additional measures, until March 31, 2023, in order to improve Singapore’s energy security and resilience.

These steps include a backup liquefied natural gas plant, requiring generation firms to keep enough fuel on hand for electricity generation, and changing market regulations.

Sembcorp Power and Keppel Electric, on the other hand, will also continue to provide longer-term fixed pricing contracts to customers as a result of the recent extension.

How much does SP charge per kWh?

The electricity tariff for households increased from 27.94 cents per kWh to 30.17 cents per kWh (without GST) and 32.28 cent per kWh (with GST) from July 1st to September 30th, 2022.

Meanwhile, the water tariff has increased to $1.21 to $1.52 per cubic meter (without GST) and $1.29 to $1.63 per cubic meter (with GST).

And, of course, the gas tariff increased its fee per kWh to 23.09 cents per kWh (without GST) and 24.71 cents per kWh (including GST) effective July 1st to September 30th, 2022.

How much is Commercial Electricity Rates in Singapore?

Depending on your location, nature of business and the type of equipment that you are using, electricity prices vary.

With the retail electricity market in Singapore open to competition, you can find and compare the cheapest electricity rates in Singapore.

Business sizeAverage annual usage (kWh)
Micro business5,000 – 15,000
Small business15,000 – 25,000
Medium business25,000 – 50,000
Average Business Electricity Use in Singapore

Singapore Electricity Price

Now that you’ve reached the conclusion of this article, we can conclude that the people’s assertion regarding Singapore’s high power prices is rather accurate, given the several factors that we’ve discussed above.

However, given our current situation, especially the global market and our economy, the increase in SP bills are very justified.

Overall, we hope that we have addressed all of your concerns and piqued your interest in Singapore’s power rates by presenting all of the facts and information gleaned through our study.

We want to see you having the time of your life here in Singapore and not worrying too much about your costs; you only live once, so make the most of it!

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