Energy Market Authority in bed with Singapore power ?

[congo9]

HOw can they price the power of electricity $US155 Per Barrel ? The record for crude oil is only US$147 and it has been approved by Energy Market Wuthority !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

KA NI NA ! Greed REALLY KNOWS NO BOUND ! CHAO CHEE BYE ! HOR CHIA LONG SI !

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SINGAPORE: Higher oil prices have pushed up electricity prices for this quarter up by about a fifth.

SP Services said on Monday households will see an average increase of 21.46 per cent in electricity bills, when average electricity tariffs go up by 5.38 cents per kilowatt-hour.

On average, all SP Services customers will face a 21.89 per cent increase.

For the period October 1 to December 31, tariffs have been pegged to a higher "forward fuel oil price" of S$155.14 per barrel.

This price is 38.06 per cent higher than the S$112.35 per barrel in this current quarter.

The electricity tariff is reviewed quarterly and adjusted in line with fluctuations in the cost of electricity, and approved by the Energy Market Authority.

At a news conference on Monday, the Authority's chief executive Khoo Chin Hean said that the increase is the highest so far this year.

 

[annexa]

How come my pay don't have 21% increase? Where they put the profits?

 

[pia]

For the period October 1 to December 31, tariffs have been pegged to a higher "forward fuel oil price" of S$155.14 per barrel.

Sheesh.. why stop at $155, why not forward it to 22nd century and $500/barrel?

 

[annexa]

If next quater the price neh hit $155, will we get rebate plus interest?

 

[Zombie]

How come my pay don't have 21% increase? Where they put the profits?

pegged to "forward fuel oil price" means that is the price they contracted to buy fuel for the quarter

 

[Black Swan]

Sheesh.. why stop at $155, why not forward it to 22nd century and $500/barrel?

If you read the news carefully, it is S$155.14 or about US$109.00 at todays price and exchange rate thereabout.

Nevertheless, it is still puzzling why they peg it to oil despite the fact that they use gas to generate electricity.

 

[halsey02]

If you read the news carefully, it is S$155.14 or about US$109.00 at todays price and exchange rate thereabout.

Nevertheless, it is still puzzling why they peg it to oil despite the fact that they use gas to generate electricity.

Jingle banks, jingle banks, jingle all the way...

Ging Xi Fa Cai....wo fa, wo cai!.....that's the forward rate for Christmas & Lunar New Year...

As usual, they will charge you average bill from December 2008 to March 2009, which is HIGHER than you normally use...and adjust your bill in April, if it exceeds their average, that means they take advance money from you, with no interest paid to your account. You owe them money, it's 1% of the amount owed, plus 7% GST, plus 50c reminder for the pink slip...

What's new?....hi! 66.6%..good day!...Jingle Banks & Gong Xi Fa Cai!!

 

[Zombie]

If you read the news carefully, it is S$155.14 or about US$109.00 at todays price and exchange rate thereabout.

Nevertheless, it is still puzzling why they peg it to oil despite the fact that they use gas to generate electricity.

The gas contract is based on the oil price.

For example

http://uk.reuters.com/article/oilRpt/idUKJAK30759920080415

Indonesia says Premier unit signs gas deal with SemCorp
Tue Apr 15, 2008 10:23am

"The contract is for 18 years. The price of the gas will be around $11 per million British Thermal Unit based on an oil price of $105 a barrel," Indianto said.

If the oil is selling at $126 a barrel in the market (20% higher than the $105 stated in the contract), the cost of gas in the contract will be 20% higher ($13.20 instead of $11), for the same period.

Therefore, the gas contract price fluctuates with the oil price.

Which is why they peg tariffs to oil price.

 

[The_Latest_H]

HOw can they price the power of electricity $US155 Per Barrel ? The record for crude oil is only US$147 and it has been approved by Energy Market Wuthority !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

KA NI NA ! Greed REALLY KNOWS NO BOUND ! CHAO CHEE BYE ! HOR CHIA LONG SI !

==========================================================


SINGAPORE: Higher oil prices have pushed up electricity prices for this quarter up by about a fifth.

SP Services said on Monday households will see an average increase of 21.46 per cent in electricity bills, when average electricity tariffs go up by 5.38 cents per kilowatt-hour.

On average, all SP Services customers will face a 21.89 per cent increase.

For the period October 1 to December 31, tariffs have been pegged to a higher "forward fuel oil price" of S$155.14 per barrel.

This price is 38.06 per cent higher than the S$112.35 per barrel in this current quarter.

The electricity tariff is reviewed quarterly and adjusted in line with fluctuations in the cost of electricity, and approved by the Energy Market Authority.

At a news conference on Monday, the Authority's chief executive Khoo Chin Hean said that the increase is the highest so far this year.

Enough said- this is completely, utterly ridiculous. Absolutely frivolous reasons have been given and this is completely unacceptable!