Are our electricity prices one of the most expensive in the world, and the provision of electricity – one of the most profitable?

I refer to the article “Electricity tariffs to increase for Oct 1 to Dec 31 period” (Straits Times, Sep 29).

It states that “For the period from Oct 1 to Dec 31, electricity tariffs will increase by an average of 2.1 per cent, or 0.48 cent per kilowatt hour compared with the previous quarter.

Energy utilities provider SP Group said on Saturday (Sept 29) that the increase was mainly due to the higher cost of natural gas for electricity generation, as compared with the previous quarter.

For households, the electricity tariff will increase from 23.65 cents to 24.13 cents per kwh during the time period.”

According to “Electricity prices around the world” – the USD per kwh for various countries are  as follows:

Singapore 0.165

Canada 0.107

China 0.086

Hong Kong 0.138

Indonesia 0.104

Malaysia 0.061

Norway 0.16

South Korea 0.117

Taiwan 0.094

Thailand 0.117

United Kingdom 0.224

United States 0.129

So, after taking into account the relative incomes of the lower-income, and Purchasing Power Parity (PPP) in different countries – does Singapore have one of the most expensive electricity prices in the world?

The opening up of electricity to competition has highlighted the humongous profits in the past?

In this connection, according to the article “Sizzling competition, ‘encouraging’ sign-ups as electricity market opens up in Jurong” (Channel NewsAsia, Apr 26) – “With his new 12-month plan charging 16.95 cents per kilowatt hour (kWh), almost 5 cents lower than SP Group’s current electricity tariffs“.

Does this mean that the price difference is 23.5 per cent (16.95 divided by 22.15 cents)?

So, can you imagine the humongous profits that may have been made in the past?

With the estimated annual profits of about $1.6 billion from providing electricity in Singapore – are we looking at tens of billions of profits in the past decades?

In this connection, what is arguably noteworthy may be that the loads of commentary in the media I understand, have never mentioned the obvious – the humongous profits in the past?

Is it any wonder that our Press Freedom Ranking for 2018 is at 151st?

 

Leong Sze Hian

 

 

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9 Responses to “Are our electricity prices one of the most expensive in the world, and the provision of electricity – one of the most profitable?”

  • Samuel S:

    We have been overcharged by PAP Government since she rules Singspore since day 1.

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  • Power Crazy Government:

    And Dirt-Rich Corporate Chiefs

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  • HarderTruths:

    “Singaporeans have the government they deserve. I do not want to hear any more complaints.” – KJ

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  • Leegirly Corrupt:

    PAP Electricity very expensive fronted by EMA, the “AUTHORITY”, board chairman from Ministry of Law?? Eh!! Why ministry of Law doing here????

    WOW, Malaysia at 0.061 KWH, why PAP electricity made of GOLD Tap is it??

    Shameless…. we need to import Foreign Talent but this time from Pakatang Harapa to teach them how to run it more economically for all of us. Wonder how they do it.

    OOer&Mangala:

    I don’t need a Government to tell me all the worse of things, hard times, steal lunch boxes and then raise taxes while they paid themselves millions and millions.

    I was so saddened that my u.grad daughter told me that soon we can buy cheaper electricity from various retailers to choose from. All the education had not taught her to look far and beyond for problems solving. It’s like the frog in the boiling kettle trying to swim to a cooler spot but soon be cooked.

    I told her its a fake make believe world by the PayPay so that the citizen will not blame them. All the prices are heavily and heavily taxed and controlled whether you get from Shop A, Shop B or Shop C, it won’t be cheaper than Malaysia. Its the “controlled price” + “variable alpha” decided by the vendors.

    Analogy:

    Shop A = $100, Shop B = $100.50, Shop C = $100.20, Shop D = $100.30.

    But;

    Malaysia = $5

    If you blame the Energy Market Authocity, then you are quite close but I would ask you to blame the PayPay because they always set up committee and committee to shield themselves so that you blame committees instead of the devil ones like the “infilial” one, the head of the devils.

    Why Malaysia boleh and all our million dollars paid miniskirts cannot but still paid themselves millions and millions?

    </blockquote

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  • OOer&Mangala:

    I need Lim Tian to uncover who are those sleeping shareholders in the private ventures making billions?

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  • Money Is Not Evil, Greed Is:

    Yes, Singaporeans deserve the government they have elected. PAP is doing a Fine job in giving back what the voters wanted, and taking away from the voters what the PAP leaders wanted.

    The voters love to be screwed and the PAP leaders love more and more money.

    So, as a fair exchange, the PAP keep screwing the voters to make them happy to keep voting for the PAP and also keep taking away their money to make them pay for the ministers and paper generals $million salary.

    All is fair in love and in war! So, just keep voting for PAP so that you can continue to enjoy being screwed!

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  • Frog In Boiling Water:

    PayPay Fake World…

    Frog in the boiling kettle, happy with a slightly colder spot…. but soon be cooked.

    PayPay should be answering why neighbour government can do better than them.

    … almost 5 cents lower than SP Group’s current electricity tariffs“.

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  • LIONS:

    many sg familis kena DOUBLE WHAMMY by lee ah long.
    first,jobs got robbed by FORCEFUL FT POLICY IMPLMENTATION AND THEN ESCALATED COL IN VARIOUS WAYS.

    no job,no income,still kena PAY AND PAY till nose bleeds!

    you think lee ah long cares at all?
    all he wants is to COLLECT MORE MONEY FROM POOR SGS TILL THEY ALL DROP DEAD.
    TO THE RICH,WHAT IS ELECTRICITY INCREASE,WHAT IS CPF SAVINGS WHEN YOU HAVE MILLIONS IN BANKS?

    BUT TO THE POOR,EVEN $100 K CPF MEANS A LOT.

    LEE AH LONG N HIS RICH CRONIES DONT CARE A THING,THEY CANT FEEL THE PINCH.
    THEY NEED NOT GO HUNGRY.IN FACT,EVERYHTING FOR THEM IS ALMOST FREE OF CHARGE IN REALITY?

    TIME TO SACK THESE PAPIES,THEY ARE USELESS AND HARMFUL.

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  • Bobo:

    The Sg PLPs and FTs from India, China, Myn, Vn, Thai, Php, US, Aus,Jpn, Kor said Water and Electricity bill are very very cheap, very affordable and convenient. Imported goods and food also very cheap. GST 9% no problem. Those were the things PAP love to hear. OMF.

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