Electricity price plans in Singapore climb by up to 11% as retailers hedge against rising costs amid Middle East war
CNA
Retailers may be raising prices more quickly as a precaution amid market uncertainty, experts say.
SINGAPORE: Households renewing their electricity contracts are already facing higher prices, with retailer plans up by as much as 11 per cent almost three weeks into the US-Israel war on Iran.
Fixed-price retail plans for residences ranged from 24.88 to 28.67 cents per kWh on Feb 27 – a day before the war began.
By Friday (Mar 20), prices had increased to between 28.8 and 29.18 cents per kWh, data from the Open Electricity Market’s price comparison website showed.
This represents an increase of between 1.2 and 11.3 per cent, depending on the plan and retailer.
In a Facebook post on Wednesday (Mar 18), President Tharman Shanmugaratnam highlighted the “major new stress point in the global economy” as the Strait of Hormuz remains closed in the third week of the conflict.
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On average, there were nearly 320 cases of illegal bird-feeding a year between 2023 and 2025, and around half of them involved seniors.
Some Singtel customers reported issues ordering or paying for food, accessing the internet for work and utilising their roaming.
One restaurant owner says he may switch to serving drinks in disposable cups to avoid storing used cans.
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Staying invested in the stock market is likely the best strategy for investors amid volatility from the war in the Middle East, analysts said.
According to the public hearing list, a case management conference between the Law Society of Singapore and Mr Singh was scheduled for Thursday (Mar 12) afternoon in a Supreme Court chamber.
After prioritising and catering for Singaporeans, available seats were also extended to foreign nationals, said MINDEF.
The Ministry of Trade and Industry said it seek further clarification from its US counterpart.
Electricity prices are expected to increase in the coming months, but the government stands ready to support households and businesses as necessary, said the Minister-in-charge of Energy and Science & Technology.