Oops! I made a mistake!!

[TeeKee]

Electricity tariff reduced by nearly 24.7% for first quarter of 2009
04 December 2008

SINGAPORE: The electricity tariff for households will be reduced by 24.7 per cent to 22.93 cents from January 1 to March 31 next year.

SP Services said that on average, the tariff for all customer categories will be down by 24.9 per cent due to lower fuel oil prices.

It added that for the first quarter of next year, tariffs are pegged to a lower forward fuel oil price of S$92.99 per barrel, which is 40 per cent lower than that of S$155.14 per barrel for the current quarter.

The electricity tariff is reviewed quarterly.

 

[SIFU]

they are still pegging it at S$92??:oIo:

i tot oil now only US46 (less than S$75).

:oIo: PUB.. go eat shit!!

that time raise 20%, now reduce 24% = back to square 1 = no actual reduction!

 

[ahleebabasingaporethief]

they are still pegging it at S$92??:oIo:

i tot oil now only US46 (less than S$75).

:oIo: PUB.. go eat shit!!

that time raise 20%, now reduce 24% = back to square 1 = no actual reduction!

Yes correct. There is NO REDUCTION.

These CCBs want to pian gi na again.

Heard they bought OIL FUTURES at $120 per barrel for the next 12 months. SIA also did the same, bought oil futures at $120 per barrel.
Our scholars vely smart ah.

Only SINGAPOREANS are stupid for voting the clowns in every erection/:oIo:

 

[jw5]

Electricity tariff reduced by nearly 24.7% for first quarter of 2009
04 December 2008

SINGAPORE: The electricity tariff for households will be reduced by 24.7 per cent to 22.93 cents from January 1 to March 31 next year.

SP Services said that on average, the tariff for all customer categories will be down by 24.9 per cent due to lower fuel oil prices.

It added that for the first quarter of next year, tariffs are pegged to a lower forward fuel oil price of S$92.99 per barrel, which is 40 per cent lower than that of S$155.14 per barrel for the current quarter.

The electricity tariff is reviewed quarterly.

Is it an honest mistake?

 

[myfoot123]

Yes correct. There is NO REDUCTION.
Heard they bought OIL FUTURES at $120 per barrel for the next 12 months. SIA also did the same, bought oil futures at $120 per barrel.
Our scholars vely smart ah.

That means SMRT did the same and all other govt dept pegging oil futures at such hight price. It is unfair to pass the cost to peasants and make us bear all the mistakes they made.

 

[Ramseth]

SP Services said that on average, the tariff for all customer categories will be down by 24.9 per cent due to lower fuel oil prices.

It added that for the first quarter of next year, tariffs are pegged to a lower forward fuel oil price of S$92.99 per barrel, which is 40 per cent lower than that of S$155.14 per barrel for the current quarter.

Question 1. Even on a forward-to-forward basis, there's a 40% price reduction. Why only 25% tariff reduction?

Question 2. If they're so eager to contract forward at US$155 and US$93 per barrel, why not stockpile now at less than US$50 per barrel in current cash market? Why pay premiums on forward contracts any further?