A Singapore Government Agency WebsiteHow to identify
Government agencies communicate via .gov.sg websites
(e.g. go.gov.sg/open).Trusted websites
Look for a lock ( )or https:// as an added precaution. Share sensitive information only on official, secure websites.
The Uniform Singapore Energy Price (USEP) is the half-hourly energy price in the Singapore Wholesale Electricity Market. Energy withdrawal from the national grid is settled at the USEP. Since 2022, various measures were introduced to enhance Singapore’s energy security and resilience. In Q3 2023, Temporary Price Cap (TPC) was implemented to further mitigate episodes of extreme price volatility. The elevated USEP in Q2 2023 was attributable to higher demand for electricity and lower supply due to maintenance of generation facilities.
Note: Data for 2024 was as at Jun-2024.
Visit the Statistics section for more recent statistics on USEP.
The regulated electricity tariffs trended downwards from 2H 2022 to 1H 2023. From 2H 2023 to 1H 2024, regulated electricity tariffs increased by 5.7% from an average of 28.2 cents per kWh to an average of 29.8 cents per kWh.
A similar trend was observed for the general town gas tariffs. The general town gas tariff increased by 4.1% from an average of 22.2 cents per kWh in 2H 2023 to an average of 23.1 cents per kWh in 1H 2024.
The trends observed for electricity and town gas tariffs were largely due to changes in cost of natural gas supplies.
Note:
1. Electricity and town gas tariffs are regulated by the EMA. The tariffs are updated quarterly to reflect changes in the cost of generating/producing and delivering electricity/gas to consumers.
2. There are three categories of town gas tariffs which are categorised according to the consumption of Town Gas per month. They are:
(i) General Tariff: Applies to consumers who consume less than 1,000 kWh of Town Gas per month.
(ii) Bulk Tariff A: Applies to consumers who consume a minimum consumption of 1,000 kWh of Town Gas per month.
(iii) Bulk Tariff B: Applies to consumers who consume a minimum consumption of 50,000 kWh of Town Gas per month.
Note: Data for 2024 was as at Jun-2024.
Energy cost constituted the largest component (77.3% or 23.0 cents per kWh) of regulated electricity tariff in 2024 (as at 1H 2024). This component is adjusted quarterly to reflect changes in the cost of fuel and power generation. The fuel cost is the cost of imported natural gas, which is tied to oil prices by commercial contracts. The cost of power generation covers mainly the costs of operating the power stations, such as the manpower and maintenance costs, as well as the capital cost of the stations.
Note: The four main components of Electricity tariffs in Singapore are:
1. Energy Costs (paid to the generation companies),
2. Grid Charges (paid to SP PowerAssets),
3. Market Support Services Fees (paid to SP Services), and
4. Market Administration and Power System Operation Fees (paid to the Energy Market Company and the Power System Operator respectively).
Note: Data for 2024 was as at Jun-2024.
Data in this annual publication is accurate as of Sep 2024.
For enhanced visibility of the variables in the charts, you may filter them through the charts' legend.