Singapore's electricity prices increase as much as 12% amid Middle East war

Household electricity contract renewal prices in Singapore have increased by as much as 11 per cent since the start of the US-Israel war on Iran.

CNA reported that on Feb 27, a day before the war began, fixed-price retail plans for residences ranged from 24.88 to 28.67 cents per kilowatt-hour (kWh).

By Saturday (March 21), prices increased to between 28.80 and 29.18 cents per kWh depending on plan and retailer, according to AsiaOne’s checks on the Open Electricity Market’s price comparison website.

The most expensive plan was from Senoko Energy Supply, whose monthly fixed price plan rose from 25.88 cents to 29.18 cents. This is almost a 12 per cent increase.

According to CNA, a four-room HDB flat consuming an average of 357 kWh of electricity per month, will pay $10.42 more for a 24-month fixed price plan from Senoko Energy.

But the retailers have different promotional gifts and rebates to lower the cost.

Senoko Energy offers customers up to $240 in promotional gifts and rebates, compared to the $160 bill rebares previously.

Meanwhile, the bill rebates for Keppel Electric and Geneco customers can go up to $100 and $165 respectively, lower compared to the $195 rebate before the war.

Other retailers also lowered bill rebates and removed discounts off the regulated tariffs, reported CNA.

Tuas Power Supply’s 10 per cent off regulated tariff plan and six-month fixed-price plans are no longer available.

According to data from the Open Electricity Market on October 2025, 26.57 per cent of residential accounts were on retail price plans.

Geneco holds the largest market share at 29.6 per cent, while Sembcorp Power is the lowest at 5.3 per cent.

Minister-in-charge of Energy and Science & Technology Dr Tan See Leng had previously said that Singapore’s electricity prices will likely increase in the coming months.

The government is ready to implement more measures as the worsening conflict in the Middle East affects supplies of gas and energy across the world, Dr Tan told the media during his visit to Singapore LNG Corporation on Friday.

He assured that Singapore is presently stable, notwithstanding the stockpiles that the country has.

Dr Tan, who is also Manpower Minister, urged businesses and Singaporeans to help offset the hike by conserving energy and using more energy-efficient appliances.

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