Electricity up: Profits in the billions?

Photo: www.99.co

January 1, 2018

Are our electricity tariffs one of the highest in the world?

I refer to the article “Electricity tariffs up by 6.3% in next three months” (Straits Times, Dec 30).

It states that “Households will pay more for electricity in the new year, with tariffs rising by an average of 6.3 per cent.”

According to Singapore Power’s annual report 2016/2017 – its profit for the year ended 31 March 2017 was $948.8 million, an increase of 2.7 per cent over the previous year’s $923.5 million.

Singapore PowerAssets’ profit was $433.6 million.

What about the profits of the power generating companies – some of which have been sold to foreign companies?

So, in totality – how much profits are being made from providing electricity to the people?

Leong Sze Hian

About the Author

Leong

Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional qualifications.