SINGAPORE: Singapore is raising electricity tariffs by 9.2 percent in the third quarter, driven by higher prices of natural gas, a unit of Singapore Power said on Thursday.
The hike came as the city-state's consumer prices continued to fall.
Headline consumer prices in May extended an annual decline for a 19th straight month, the longest such streak since Singapore's independence in 1965.
The tariff hike applies from July 1 to Sept. 30, said SP Services, Singapore Power's electricity, gas and water unit.
"The increase is largely due to the cost of natural gas for electricity generation, which rose by 26 percent compared to second quarter 2016," it said in a statement.
SP Services reviews the tariffs every quarter, based on guidelines from electricity industry regulator the Energy Market Authority. Housing and utilities make up about 26 percent of the consumer price basket.
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