Electricity bills up 21%
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Originally posted by the Bear:
Uh-oh.
That means electricity bills in singapore will be increased by another 22%.
Again.
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Originally posted by charlize:
Uh-oh.
That means electricity bills in singapore will be increased by another 22%.
Again.
Higher prices will help households to reduce electricity consumption, therefore aid in the global initiative to reduce carbon emissions, making Singapore a cleaner and greener country. We Singaporeans should be proud of our achievements in combating environmental degradation. Majulah Singapura!!!
Did anybody buy that?
I think I qualify to be a Minister.
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Originally posted by maurizio13:
Higher prices will help households to reduce electricity consumption, therefore aid in the global initiative to reduce carbon emissions, making Singapore a cleaner and greener country. We Singaporeans should be proud of our achievements in combating environmental degradation. Majulah Singapura!!!
Did anybody buy that?
I think I qualify to be a Minister.
Based on this, all ministers deserve a raise in their salaries.
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Originally posted by maurizio13:
Higher prices will help households to reduce electricity consumption, therefore aid in the global initiative to reduce carbon emissions, making Singapore a cleaner and greener country. We Singaporeans should be proud of our achievements in combating environmental degradation. Majulah Singapura!!!
Did anybody buy that?
I think I qualify to be a Minister.
no you don't.. you didn't give yourself a pay rise and then use that as justification..fail!
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Originally posted by charlize:
Based on this, all ministers deserve a raise in their salaries.
They should, they did their part in making Singapore a cleaner and greener environment. More pay rises for Ministers.
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Originally posted by the Bear:
no you don't.. you didn't give yourself a pay rise and then use that as justification..fail!
I think soon there will be standard jokes surrounding ministers' salaries.
Kinda like those light bulb jokes or dumb blonde jokes.
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Originally posted by charlize:
I think soon there will be standard jokes surrounding ministers' salaries.
Kinda like those light bulb jokes or dumb blonde jokes.
could be.. considering a lot of their reasons are brighter than dumb blondes and smarter than light bulbs.. -
Soon, natural gas's prices will rise and there will be a 42% rise in electricity bills.
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for everybody who don't know or notice all electricity bill in singapore pay by the people. traffic light and road side light pay by road tax. Your corridor light, lift operate by electricity too.Conservancy charges? WE pay or they pay?
singapore is so rich cause anything happen singaporean willing to pay.
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lemme see.....we should cut down on using electricity.....
and STOP BURNING PLASTICS FOR ELECTRIC!!! as a result of this.....we have Gobal Warming.....and Gobal Warming = Skin Diseases.......Skin Diseases = Human dies......Human dies = A NEW AGE WILL ARISE.....and it will be the Warming Age.....damn we r in the Internet Age already.....this is bad enough.......
In 20-50 more years we would be in the WARMING Age damn i hate this.......if we dun do sumthing fast...we r goners....guys.....think of a solution..........
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Originally posted by Fantagf:
Vote PAP out. They have been winning all this while and so naturally are contented and refuse to base on serving the public to make life better. Thus they take it that whatever they do, however high increase they make, people will just make noise for a short while and on election day, majority will cast their votes to them. Easy win for them so why should they care about the people, they will just continue to serve themselves.
Time for Singaporeans to wake up and be bold to vote these evil greed despots, dictator out.
I agree with that if they were a strong fight i doubt that they will do this kind of stuff and look into it more as to be secure their seats and their wages. Since the prime minister has a generous sum of his wages he should be able to pay of the electricty bills with it but since we are human beings i doubt that will happen since we are filled with alot of ego -
Originally posted by charlize:
Based on this, all ministers deserve a raise in their salaries.
Top Five Reasons Why the Temasek managers should get a big Pay Increase
By Andrew PK Yap
www.newsintercom.org
Oct 03 2008 0500pm
(same reasons why Government Ministers should too)
5. Hey, the sub prime crisis, has nothing to do with them
4. The global financial crisis from the contagion has nothing to do with them
3. The government will do something about the drop in property and rental prices to ensure that rental prices stay high for businesses.
2. They sold the best national assets in the Temasek portfolio for handsome profits, no?
Drum roll please..........
[Read More!] -
EMA explains spike
I REFER to Wednesday's letters ('Tariff hike goes against common sense' and 'Power Points') on the revision in the electricity tariff, and would like to clarify how the Energy Market Authority regulates the tariff proposed by SP Services. Singapore imports all the fuel we need for power generation and the electricity tariff must reflect this cost. Indeed, the cost of fuel accounts for about 60 per cent of the electricity tariff.
While 80 per cent of our electricity is generated using natural gas, the price of this gas is tied by long-term contracts to the fuel oil price. This is the market practice in Asia where fuel oil is the substitute fuel source to gas, and sets a natural benchmark for gas pricing.
If what they said is true why did Hong Kong public listed company cut tarrifs? Most importantly, where did the ultra high returns on equity (ROE) 25.5% of Singapore Power come from? Not by overcharging Singaporeans by buying at gas prices and charging at oil prices?
For your info DBS Bank ROE is 12%*
If the Ultra High ROE is due to super efficient management over Hong Kong Companies, could the Singapore Power please explain what did they do to beat Hong Kong companies hands down.
Source (25.5%)
http://www.temasekholdings.com.sg/temasekreview/2008/mobile/Singapore%20Power-mbl.html
*http://finance.google.com/finance?q=SIN:D05 (DBS Bank ROE)
The electricity tariff in Singapore is therefore pegged to the fuel oil price. If the fuel oil price goes up, the electricity tariff will be increased. Likewise, if there is a reduction in the fuel oil price, the electricity tariff will be reduced accordingly, as happened in two consecutive quarters last year.
To provide certainty in pricing, the electricity tariff is set in advance for a three-month period based on the three-month forward fuel oil price. For example, the forward fuel oil price quoted last July for delivery between this month and December will determine the tariff for this period.
Another lame reason. Then why Hong Kong power companies do not need to follow out certainty in pricing excuse?
As the fuel oil price increased sharply in July this year, there was a corresponding spike in the July forward fuel oil price for this month until December. This is why we are experiencing a sharp increase in the electricity tariff now. Recently, the fuel oil price has started to come down. If the downward trend continues this month, we can expect a reduction in the electricity tariff for the first quarter of next year.
The increase in the electricity tariff has nothing to do with the recent Formula One event. The F1 organisers brought in their own generators and equipment for the race. The electricity tariff was not used to pay for the costs of lighting the F1 circuit.
The increase in tariff is also not linked to the privatisation of the electricity industry. On the contrary, the privatisation process has helped to promote greater competition and drive efficiency gains in the power generation companies. This has brought real benefits to all consumers. Despite the substantial rise in fuel oil price over the years, the increase in electricity tariff has been much smaller in comparison. Our electricity price would have been much higher had it not been for competition.
Jenny Teo (Ms)
Director, Corporate Communications
Energy Market Authority (EMA) -
I like to suggest that the majority be awarded Guinness world record for the most supportive 1st world Democratic citizens for their behavior towards hikes of all kinds.
Majority, you know who you are. Stand up, raise your hands high high and say, YES! I am a proud 1st world democratic citizen! I am the best of the best! I am stedi until cannot boon bibi!
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Excuse me, Singapore Power.
But you are coming across to be overtly UNCOUTH by keeping quiet despite the rumbling sentiments of your recent gargantuan inscrease in Tarrif.
People aren't buying your excuse that Oil Prices are going up. Please be more humane even though you need to make profits. These aren't exactly Rosey Times and life isn't Peachy amongst the mid and low incomers.
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LET FLY
By Lediati Tan
October 04, 2008
THE latest power rate hike has Miss Chua Kim Choo scratching her head.
On the one hand, the bank administrator read in the newspapers that electricity bills are up by 21 per cent from Wednesday. On the other hand, there are news reports saying that oil prices have fallen.
Miss Chua, who is in her 50s, pointed out that My Paper carried an report that quoted the Energy Market Authority (EMA) as saying that the projected fuel-oil price for the next three months will jump by 38 per cent, justifying the 21 per cent increase.
She said that in the same day's paper, there was another report saying that Taiwan Airlines will cut fuel surcharges on international routes to reflect oil prices.
The latest round of power hikes - the fourth this year - has left MissChua fuming.
'The 21 per cent increase is ridiculous. It's too high.
'How can it be justified when there are reports saying fuel prices have fallen?' she asked.
It is the highest one-time increase in about seven years, EMA said.
EMA chief executive Khoo Chin Hean explained that petrol and diesel pump prices, which have fallen in recent weeks, are not indicative of how much power generation companies have to pay.
Since 2004, electricity tariffs have been pegged to the price of fuel oil delivered to power generation firms for the next three months, otherwise known as 'forward fuel oil' prices.
Mr Khoo was hopeful that if oil prices continued to drop, electricity tariffs could fall in the next quarterly revision, due in January.
When this reporter asked Miss Chua if she understands what forward fuel oil prices means, she replied: 'I don't know what it means. I don't think the majority of us do.'
This only adds to her confusion.
Miss Chua lives in a five-room HDB flat with her younger sister and her 20-year-old niece.
They pay power bills of more than $300 a month. With the latest increase, they can expect to pay another $63.
Miss Chua said: 'I've grown tired of analysing it, so I just pay.'
She said she and her family have tried out ways to cut down on their power usage. They no longer leave their electrical appliances on standby and they have used energy-saving lightbulbs for the last three years.
But, she lamented, 'no matter how much we save on usage, the electricity bills are always high'.
Despite the Government's rebates, she feels that the lower-income will be the worst-hit, although she thinks middle-income earners are also increasingly being squeezed. -
Originally posted by AndrewPKYap:
Top Five Reasons Why the Temasek managers should get a big Pay Increase
By Andrew PK Yap
www.newsintercom.org
Oct 03 2008 0500pm
(same reasons why Government Ministers should too)
5. Hey, the sub prime crisis, has nothing to do with them
4. The global financial crisis from the contagion has nothing to do with them
3. The government will do something about the drop in property and rental prices to ensure that rental prices stay high for businesses.
2. They sold the best national assets in the Temasek portfolio for handsome profits, no?
Drum roll please..........
[Read More!]
3. They dun have to bother what Andrew PK Yap said. -
"forward fuel oil prices",
Oh!! what a nice accounting phrase to put in the statement, any backward fuel oil prices to balance it. What about the going concern and the historical concern??
Price hike to sell power plants at better price said so lah, give those lame stupid F**k reason for what???
Pardon my words. Just cannot stand those phrases of the Elites use to Con the laymen.
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To the Khoo and the Teo of EMA,
For the next 3 months oil price projected as your "forward fuel pil prices" will be S$ 155 per barrel. What if oil prices stays at S$ 90 per barrel instead? What are you going to do? If it is truth you had sucked all citizens by 60% min of the over charged S$65 per barrel?
Next quarter how do you charge if oil price at S$ 90 per barrel? What will be your "forward fuel price" again? S$ 120?? to reflect adjustment of "going down only"?? or compensate the citizen by projecting it at S$ 35 per barrel??
Will this so called "forward fuel price" compensate your "over & irresponsible" assumption price??
Since both of you take high high post and collect high high salary, then must also take big big responsibilities mah.. Please automatic and submit your resignation if your prediction overcharge the citizen by more then 20%. Then maybe citizen thumbs up for you.
Learn from the previous PTC guy (dont know what name la) after made the decision to increas public transport and kenna left right centre from the public but cannot U-turn then after that resign la. But the hack is still remember from the newspaper with his F-face and title "I know I am right!"
Lets settle one thing at a time, next will be HDB.. S$8,000 income cap but HDB selling at S$ 600K plus. Subsidise = reduce profit and not what we'd been understood since 1970s it is a government sharing of the building cost for the citizen.. This one is the most solid one... MBT go where, where zialat.. Golden horse for PAP cos where he sit all price goes up. If LHL want to "revamp" another area to increase revenue, you guys know by know who do LHL call...
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i think the government very smart.... allow internet freedom in the forums, so that the people will be so busy slamming the government in the forum and will not actually take any real action.
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Originally posted by skythewood:
i think the government very smart.... allow internet freedom in the forums, so that the people will be so busy slamming the government in the forum and will not actually take any real action.
what action can u take when they get the 66.6%votes, wait for next time, if it goes down below 50%, wow! real action will come in. -
Posting in the net could be an action. Dont estimate the power of internet, you keyed your credit card number to do purchase so you can trust the internet then you can trust the power. All things need patience, time and hardwork. For those who agreed for the past 3 years, nothing had been forwarding for the citizen except for all stupid policies increasing our hardship and telling us to accept only so that they can collect their million dollars salary and no need to think so much. (or maybe their high salary is just to tell citizen to shut up and live with it for the government) Now despite the real and present social problems, they go ahead with the domitory in Serangoon Garden then waste more money by creating another route. Are they listening??
We got 3 more years to go, wack one at a time. Next election will be the time where citizen throws away their fear and walk out of their comfort zone. If you want no more nonsense policy that is the only chance if not, another 5 years and then GST 10%, maybe every citizen must rent one of their room to 2 FW and collect little money cos government say you ppl must be understanding mah. Also to solve the housing problems for FW and also to let citizen get close to the FW to understand them better, stay with them lor.
Choose!!!! 3 more years of hardship (which we dont know what else they will come up with) or another 8 years of hell without a voice.
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do forward fuel prices = prices on the oil futures contract ??
if it is, then isn't that the same $90 plus dollars per barrel we are seeing on the news ?? those prices are 'forward prices' as well mah ...
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It's like ministerial salaries in Singapore.
Regardless of what happens, it can only go up.
Be it to retain "talent", to curb corruption or to make sure people have hum in their mee siam.
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Originally posted by maxtor:
do forward fuel prices = prices on the oil futures contract ??
if it is, then isn't that the same $90 plus dollars per barrel we are seeing on the news ?? those prices are 'forward prices' as well mah ...
their foward fuel prices only refer to those above $140 per barrel future fixtures, those below that will not be counted. -
Originally posted by charlize:
It's like ministerial salaries in Singapore.
Regardless of what happens, it can only go up.
Be it to retain "talent", to curb corruption or to make sure people have hum in their mee siam.
ar?? mee siam got hum meh??? who teach you?? blind follow the blind.