Electricity bills up 21%
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Originally posted by lotus999:
<One observer noted: “With the gencos being sold for high prices now, there might be pressure for the new genco owners to recover their capital from increasing the cost of electricity. As two of the gencos are now in foreign hands, the government (through the Energy Market Authority) may have less influence going forward to get the gencos to keep their prices low.”>
even our own gahmen is overcharging us and this joker except foreign firms to be kind to us!
No lah, this is actually quite a good piece of article. It is very subtle, yet it sums up wat is happening precisely.
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Originally posted by (human):Dear people petition for tariff hike is here. We should not let the government think that we can quietly accept all this ridiculous hike when oil price has come down to this level. Please read, sign up and spread around to friends and relatives to support.
Thank you.
http://www.petitiononline.com/sptariff/petition.html
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Got help no help i nono.... but pls help. 192 only!!!! pathetic!!!! -
Originally posted by whiskers:
No lah, this is actually quite a good piece of article. It is very subtle, yet it sums up wat is happening precisely.
wow the petition very badly written leh.
what could have happened was some smart alexes at sg power betted wrongly that oil price would continue to shoot up and bought at 155 at the futures market. it is something like what the ex-ceo of china aviation oil did 1 or 2 years back. he caused the downfall of the company and was eventually jailed. but do our elites ever have to take responsibilty of their mistakes.
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electricity up 21% and singaporeans only kpkb here and in the kopitiams...
when their pockets got burnt by the lehman minibonds, everyone gathered at hong lim park to protest...
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Wah, we are really overcharged by our govt!
The approximate charges for my family electricity usage of 300 kWh in various countries:
Sg S$97
HK S$57
Taiwan S$48
My S$37
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Originally posted by lotus999:
wow the petition very badly written leh.
Although it was not written up to expectation, but i want to thank this person who started the ball rolling for his initiative.After all it's better than nothing is being done. Isn't it? -
Originally posted by pearlie27:
Wah, we are really overcharged by our govt!
The approximate charges for my family electricity usage of 300 kWh in various countries:
Sg S$97
HK S$57
Taiwan S$48
My S$37
But as long as the people find this affordable, they wont compraing.
So far, I sense they are quite rich.
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Originally posted by pearlie27:
Wah, we are really overcharged by our govt!
The approximate charges for my family electricity usage of 300 kWh in various countries:
Sg S$97
HK S$57
Taiwan S$48
My S$37
This is singapore, home of the pap. -
btw dunno you guys heard of this? a power saving device.
www.esinnovations.comand yes, i'm part of this business. came across this ANGRY forum while goggling.
no offense, but take a look. yes...pay first..but try it out for a few months, if you're not satisfied, we have a 100% cash refund in place.chill out guys.
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Electricity tariffs not pegged to spot oil prices
SINGAPORE: Electricity tariffs in Singapore are not likely go down despite the drop in oil prices.
That's because power rates are not pegged to fluctuating oil prices but to what fuel would cost when delivered every three months.
To provide more certainty, the Trade and Industry Ministry has decided, since 2004, to peg electricity tariffs to a three-month forward fuel price formula.
That means power rates do not fall immediately if oil prices drop but will instead follow the the market price of oil delivered in the next quarter.
"This time lag works both ways - that is electricity tariffs move up more slowly when fuel oil prices are rising and move down more slowly when fuel oil prices are falling," said Senior Minister of State for Trade and Industry S Iswaran.
Mr Iswaran was responding to questions in Parliament.
He also said regulations are in place to prevent the power supplier from overcharging consumers.
But he said the government cannot make it compulsory for companies to transfer more of their profits to consumers as that would discourage them from investing more in improving electricity supply in Singapore.
- CNA/ir -
So the forwards price from May 2008 to July 2008 was higher than Sept 2008 and Oct 2008?
Abit about Forward and Spot Prices:
......Incidentally, for forward contract pricing, whether settled physically or financially, the use of the forward price is not a problem as the forward price at expiration (meaning delivery) and the average spot price are statistically (on average) equal......
Source: Energy and Power Risk Management by Alexander Eydeland, Krzysztof Wolyniec
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But he said the government cannot make it compulsory for companies to transfer more of their profits to consumers as that would discourage them from investing more in improving electricity supply in Singapore.
talk bird! then why in the first place, sell them to the foreign own entities.
the responsibilities now lies in no man land!!
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Originally posted by reyes:
talk bird! then why in the first place, sell them to the foreign own entities.
the responsibilities now lies in no man land!!
correct!
they reap the profits from the sale, then left us with the burden, now they claim innocence.
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Originally posted by maurizio13:
correct!
they reap the profits from the sale, then left us with the burden, now they claim innocence.
yet they can collect corporate Taxes from the foreigners who run the show.
Aiya, go back taiwan be bing lang mei mei better
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Originally posted by angel7030:
yet they can collect corporate Taxes from the foreigners who run the show.
Aiya, go back taiwan be bing lang mei mei better
don't need lah, you want sell bing lang can sell in joo chiat.
come to think of it, if you sell in Singapore better, no competition.
don't worry, i come support you.
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http://www.salary.sg/2008/singapore-number-2-in-raising-electricity-tariffs/
the above chart is %increase in electricity tariffs since 2005.
First world, nearly comparable to London!!! only second place..
Congrats, we are better than new york also...
I am sure our salary also on par with london...
Well done!!! -
Originally posted by whiskers:
http://www.salary.sg/2008/singapore-number-2-in-raising-electricity-tariffs/
the above chart is %increase in electricity tariffs since 2005.
First world, nearly comparable to London!!! only second place..
Congrats, we are better than new york also...
I am sure our salary also on par with london...
Well done!!!Cost of Living 1st world, Government 3rd world, Ministers Salary above 1st world, Commoners Salary 3rd world.
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What u guys think?
Will the majority of the remaining potential hikes (many goods & services can use same reasons to hike) to come happen in the next 1 or 2 years of after 2 years?
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Is it me or does anybody have the same gut feeling that this recession is going to be the mother of all recessions?
In a time of slowing economic growth, prices are rising inversely.
Low growth, high prices.
Think the "S" word might be coming back in vogue.
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Originally posted by charlize:
Is it me or does anybody have the same gut feeling that this recession is going to be the mother of all recessions?
In a time of slowing economic growth, prices are rising inversely.
Low growth, high prices.
Think the "S" word might be coming back in vogue.
Satan Of Gilt.
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Nice Anagram.
Guess nobody figured it out.
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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.”
Wanna know what is SG Power's profits last year ?
Watch the video here:From Ramseth
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“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
Then why sell tax payers paid's power stations to foreigners in the first place to screw Singaporeans with 22% tariff hike?
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Originally posted by (human):
“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
Then why sell tax payers paid's power stations to foreigners in the first place to screw Singaporeans with 22% tariff hike?
yalor, then hor, i thot our power supply is already very good, no blackout like last time, what is he talking about improving...use solar power?? -
Originally posted by angel7030:
yalor, then hor, i thot our power supply is already very good, no blackout like last time, what is he talking about improving...use solar power??improving their profits la.