Wolf Money(A note on electricity tariffs)

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(Credit: Tradingeconomics.com)

(Headline credit: CNA)

Extract from portfolio update end March

“On a personal front. My household just signed a new contract with a third party electricity provider to fix our consumption before March. The next revision of the SP electricity tariffs are going to show a bigger jump. Oil has climbed more than 30% since the war started. Even with the lower oil price at 60 bucks previously, SP charges 29.11 per kWh for electricity. I don’t think oil will go much lower even if there is a ceasefire agreement. We are buying an “insurance” at 27.68 per kWh fixed for the next 2 years just in case the oil goes through a protracted period of much higher price. Furthermore, the base rate for electricity tariffs will go up due to carbon taxes till 2030.” 2c worth. God bless. 🙏

(Source: NCCS.gov.sg; Carbon taxes will increase the baseline for electricity tariffs)

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