Singapore Power record profits last year, still raise tariffs by 22%

[Avantas]

The government claimed that it is helpless to prevent the hike in electricity tariffs and urged Singaporeans to conserve and use less energy.

“The government cannot make it compulsory for companies to transfer more of its profits to consumers as that would potentially discourage companies from investing more to improve power supply in Singapore.”

- S Iswaran, Senior Minister of State for Trade and Industry

However, Hong Kong’s CLP Power is able to reduce its electricity tariff by 3% for all its customers in Hong Kong during the same period:

”CLP Power announced today that its electricity tariff will be reduced by 3% for all its customers in Hong Kong, starting 1 October 2008 when the new Scheme of Control (SOC) takes effect.

The 3% total tariff reduction, which will be realised in customers’ electricity bills, is a result of a reduction of 10% in its net basic tariff, moderated by the effect of fuel clause charge increases.”

According the same report, Singapore’s electricity tariff has risen by over 50% since 2005 and is ranked second in the hiking of electricity after London:

- CLP Group, Hong Kong

Wanna know how much Singapore Power made last year ?

Watch the video here:

http://wayangparty.com/2008/10/28/w...te-of-a-record-profit-of-s1183-mil-last-year/

 

[Conan the Barbarian]

Haha, how much improvement can there be in supplying power to people.

Strange that the govt always speak up and defend price hikes, like
PUBLIC transport hikes,
PUBLIC utilities hike,

Its about time they understand that they should be speaking up for the people that voted them in. Afterall, why did 66.6% vote for them, to make life more miserable?

Its puzzling.

 

[johnny333]

Its about time they understand that they should be speaking up for the people that voted them in. Afterall, why did 66.6% vote for them, to make life more miserable?

Its puzzling.

Long time since the PAP represented the interests of the people lah. Old guard is gone except the old man & we're seeing the true colors of the familee.

Sporeans were naive to give so much power to one man & expect him to represent their interests. Very sad but they created the Lee monster.

 

[congo9]

Long time since the PAP represented the interests of the people lah. Old guard is gone except the old man & we're seeing the true colors of the familee.

Sporeans were naive to give so much power to one man & expect him to represent their interests. Very sad but they created the Lee monster.

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

Ya right , we people of singapore has created a monster by giving out too much power to a FAMILEE !

 

[R4g3]

Public Utilities, Public Transport or even Hospital shouldn't operate with profit as the 1st concern in the 1st place. I was kinda of shocked that they dare to say they have to maintain profit and answer to directors, even in the times of hardship.

Then what's the point of having it privatised? for the good of the people or for the good of their wallet?

They used to rob you with the mask on, now they can openly rob you showing you their faces, why? because they think there is nothing we can do about it, and they will increase the frequency, as and when they like.

 

[JinGanKor]

Privatised? just an excuse to increase the digits in their bank account.

Are they sold to outside private company? who are the board of directors? who do they have to account to?

To me there is not much difference to the overall structure, the only different is that they can pay themselves more and rip the people harder.