Singapore Electricity Price Chart 2026: Compare Cheapest Rates

If you’ve looked at your electricity bill lately and wondered why costs keep climbing, you’re not alone — Singapore’s electricity tariff has just been adjusted for the April to June 2026 quarter, and the direction is up. This chart breakdown walks you through the current regulated tariff, what retail plans are offering, and what’s really driving the numbers so you can decide what to do next.

Current SP Tariff (Q2 2026): 29.72 cents/kWh (w GST) ·
Lowest Retail Fixed Plan (Geneco): 29.00 cents/kWh (w GST) ·
Tariff Increase (Apr-Jun 2026): +2.1% vs previous quarter ·
Anticipated July 2026 Change: Significant rise expected

Here are the confirmed numbers from SP Group and other official sources.

Who has the cheapest electricity rates in Singapore?

In the April to June 2026 period, the cheapest retail plan among fixed-rate offers tracked by Seedly (consumer comparison platform) is Geneco’s “Give Us A Try” 6-month plan at 29.00 cents/kWh inclusive of GST. That’s 0.72 cents below the regulated tariff from SP Group.

Current cheapest fixed-rate plans (Q2 2026)

• Geneco (YTL PowerSeraya): 29.00¢/kWh – 6-month fixed plan
• Keppel Electric: Fixed 12 plan – cheapest 12-month option per Seedly
• Senoko Energy: 24-month fixed plan (pricing not independently verified in this dataset)

These plans compete against SP Group’s regulated tariff which stands at 29.72¢/kWh (w GST) for the same quarter. The trade-off: fixed plans lock in a rate but often come with early termination penalties.

The implication: the cheapest headline rate often comes with a shorter contract term or promotional conditions.

Comparison of Geneco, Keppel and others

Two structure types dominate the Open Electricity Market: discounted tariff plans (a % off the SP tariff) and fixed-price plans. Geneco’s fixed-price plan offers a small discount over the regulated tariff, while Keppel’s 12-month fixed plan provides price certainty for a year. The spread between the cheapest and most expensive fixed plans is narrow – roughly 29 to 30 cents/kWh – according to SingSaver (personal finance guide).

How much is 1 kWh of electricity in Singapore?

For the quarter 1 April to 30 June 2026, one kilowatt-hour of electricity from SP Group costs 27.27 cents before GST and 29.72 cents with GST, as confirmed by both SP Group (utility provider) and the EMA (regulator).

Current SP tariff breakdown

The regulated tariff includes the cost of fuel (primarily natural gas), transmission and distribution charges, market administration fees, and a regulatory adjustment. SP Group reviews it quarterly based on forecast fuel prices and other cost components.

Retail plan price per kWh

Retail plans typically quote a per-kWh rate that may be lower than the SP tariff. As of Q2 2026, the lowest fixed-rate plan seen in comparison sites is Geneco at 29.00 cents/kWh inclusive of GST.

GST inclusion details

All prices quoted by SP Group and retailers are inclusive of the 9% Goods and Services Tax unless otherwise stated. Always check the small print to confirm whether a promotional rate is before or after GST.

This table breaks down the available plans and their rates.

The pattern shows a narrow spread of around 1 cent/kWh between the cheapest retail plan and the regulated tariff.

Will electricity prices go down in 2026 in Singapore?

The short answer: probably not. The The Straits Times (Singapore news outlet) reported in early 2026 that tariffs were expected to rise “significantly” from July, despite any geopolitical deals. No official forecast predicts a decrease in the near term.

Forecast based on global fuel costs

Singapore generates about 95% of its electricity from imported natural gas. The price of gas on global markets has been volatile due to supply disruptions and geopolitical tensions, including the Iran situation. The The Business Times (financial daily) quoted EMA warning of sharper hikes ahead.

Impact of July 2026 tariff increase

The EMA has not published a specific number for July 2026, but the expectation among analysts is a substantial upward revision. The Straits Times report cited “significant” increases.

Historical price trends

SP Group publishes historical electricity tariff data from 2014 onward in a downloadable Excel file (SP Group). The trend over the past decade shows a general upward trajectory, with occasional dips during periods of low oil and gas prices.

What this means for households: planning for higher electricity costs in the second half of 2026 is a prudent move.

Why is electricity expensive in Singapore?

Three structural reasons explain Singapore’s high electricity costs, and none is temporary.

Fuel cost dependency (natural gas)

Singapore has no domestic fossil fuel reserves. Almost all electricity comes from natural gas imported via pipeline from Malaysia and Indonesia, and as LNG from global markets. When gas prices spike — as they have in 2022–2026 — the impact on household tariffs is direct and immediate.

Regulated tariff structure

The SP tariff is designed to pass through fuel costs with no subsidy. The quarterly revision mechanism ensures any increase in global fuel prices is reflected within weeks. This makes Singapore’s electricity price highly transparent but also volatile.

Geopolitical factors (Middle East tensions)

The The Business Times (financial daily) specifically linked the April 2026 increase and warnings of further hikes to the Iran conflict, which has rattled global energy markets. Any disruption in the Strait of Hormuz or broader Middle East instability affects LNG prices directly.

What is affecting energy prices in Singapore?

Beyond fuel costs, several factors shape the final price per kWh.

Global fuel market trends

Natural gas prices on the Japan Korea Marker (JKM) — the benchmark for LNG in Asia — have been elevated. The EMA (regulator) publishes monthly the Uniform Singapore Energy Price (USEP), which tracks wholesale electricity costs. Wholesale prices have risen in tandem with gas.

EMA’s role in tariff regulation

The EMA sets the rules for how SP Group calculates the regulated tariff, but it does not set the price itself. It monitors the market and ensures transparency. Consumers can view the full tariff formula on the EMA website.

Supply and demand dynamics

Singapore’s peak electricity demand has been growing steadily, driven by digitalisation and new data centres. On the supply side, new generation capacity takes years to build. This imbalance puts upward pressure on prices, especially during hot weather when air conditioning use peaks.

Expert perspectives

“The overall electricity tariff for 1 April to 30 June 2026 will increase by an average of 2.0% or 0.52 cent per kWh compared with the previous quarter.”

— SP Group (utility provider), media release, March 2026

“Household electricity tariffs will rise 2.1% from April to June, and EMA warns further sharper hikes are possible amid the Iran war.”

— The Business Times (financial newspaper), March 2026

“Electricity tariff to rise significantly from July despite Iran deal.”

— The Straits Times (Singapore news outlet), headline, 2026

“The April to June 2026 tariff for households is 27.27 cents per kWh before GST.”

— CNA (Channel NewsAsia), March 2026

With the SP tariff already climbing and a sharper increase expected in July 2026, Singapore households face a clear choice: lock in a fixed retail plan now for certainty, or stay on the regulated tariff and risk higher bills. For the average HDB family, the difference could mean paying S$10–20 more per month by the second half of the year. The trade-off for every household is simple: price stability versus the potential for savings — but only if you commit before the next revision.

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