The SP electricity rate for households is 31.16 cents per kWh including GST (28.59 cents before GST) for the quarter running 1 October to 31 December 2026. That is the regulated tariff SP Services charges anyone who has not signed up with an open-market retailer. It is not a retail markup. SP Group revises it every three months under the Energy Market Authority's guidelines, with the EMA's approval, to track the actual cost of generating power, almost all of which comes from imported natural gas. Knowing what sits inside that 31.16 cents tells you two things: why your bill moves every quarter, and whether locking in a fixed open-market plan would have saved you anything.
Update, 13 October 2026: the regulated tariff for October to December 2026 is 31.16 cents per kWh with GST (28.59 cents before GST). That is down from 34.78 cents in July to September and up from the 29.72 cents this guide quoted for April to June. When people search "SP electricity rate" they usually mean the regulated tariff: the default per-kWh price SP Services bills you if you have never switched retailers. For 1 October to 31 December 2026 that rate is 28.59 cents per kWh before GST, or 31.16 cents with the 9% GST added. SP Group publishes it on its tariff page and revises it on the first of January, April, July and October.
SP does not set this number to make money. SP Services buys electricity on your behalf from the generation companies and pays the grid operator, then bills you at cost. The Energy Market Authority (EMA), Singapore's energy regulator, approves the rate each quarter. So the SP rate is a regulated pass-through, not a retail markup.
Every household in Singapore is eligible to stay on this regulated tariff. You do not need to qualify, sign a contract, or pay a premium for it. It is the fallback that applies until you choose an open-market retailer instead.
The tariff is built from four cost components that SP Group itemises. The energy cost is by far the largest, and it is the only piece that moves much from quarter to quarter.
| Component | Who it pays | Rate (c/kWh) |
|---|---|---|
| Energy cost | Generation companies (mostly gas) | 22.18 |
| Network cost | SP Group (grid operation) | 6.10 |
| Market support services fee | SP Services (metering, billing) | 0.23 |
| Market admin and PSO fee | EMC and Power System Operator | 0.08 |
| Total before GST | 28.59 |
The energy cost component is recalculated each quarter using the average of daily natural gas prices over the first two-and-a-half months of the preceding quarter, per the EMA's published methodology. Because most of Singapore's electricity is generated from imported natural gas tied to oil prices, the tariff effectively imports global fuel-price swings on a one-quarter lag.
That lag is why the Jul-Sep 2026 rate jumped 17.0% (4.64 cents before GST): it reflected the higher gas prices that followed the Middle East conflict from late February 2026. The Oct-Dec 2026 rate then fell 10.4% (3.32 cents) as gas prices eased over the summer. SP Group also said fuel prices had risen again since September, so the next quarter's tariff would go up if they stayed high. The number is volatile by design, so treat any single quarter as a snapshot, not a trend.
| Quarter | Before GST (c/kWh) | With GST (c/kWh) |
|---|---|---|
| Q3 2024 (Jul-Sep) | 29.88 | 32.57 |
| Q4 2024 (Oct-Dec) | 29.10 | 31.72 |
| Q1 2025 (Jan-Mar) | 28.12 | 30.65 |
| Q2 2025 (Apr-Jun) | 28.12 | 30.65 |
| Q3 2025 (Jul-Sep) | 27.47 | 29.94 |
| Q4 2025 (Oct-Dec) | 27.55 | 30.03 |
| Q1 2026 (Jan-Mar) | 26.71 | 29.11 |
| Q2 2026 (Apr-Jun) | 27.27 | 29.72 |
| Q3 2026 (Jul-Sep) | 31.91 | 34.78 |
| Q4 2026 (Oct-Dec) | 28.59 | 31.16 |
Since the Open Electricity Market opened to all households, you can buy the same electricity, delivered through the same SP grid, from a licensed retailer instead. The power is physically identical. Only the price plan and the contract change. Retailers price against the SP tariff in two main ways.
Note one quirk: when fuel costs are low, the regulated tariff itself becomes competitive, and some headline fixed rates sit barely below or even at the SP rate. The cheapest plan is not always a switch.
You lock a flat cents-per-kWh rate for the full contract (commonly 6, 12, 24 or 36 months). You are insulated from quarterly tariff hikes, but you also miss out if the SP tariff falls below your locked rate. Retailers reprice fixed plans often, so check today's fixed rates against the SP rate, 28.59c before GST for October to December 2026. Our retailer comparison lists current plans.
You pay the prevailing SP tariff minus a fixed percentage discount (for example 20% off). Your rate still rises and falls with the quarterly tariff, but always sits below it. This suits people who do not want to bet on fuel prices. The catch is that a discount off a falling tariff shrinks in dollar terms as the tariff drops.
Time-of-use plans charge less for electricity used overnight (typically 11pm to 7am) and more during the day. They only pay off if a real chunk of your usage is genuinely off-peak, such as overnight EV charging or running the dryer late. For most households the daytime rate erases the saving.
Compare the plan's effective rate against the current SP tariff over the whole contract, not just this quarter. A fixed plan only wins if you believe the average SP tariff over the next 12 to 24 months will exceed your locked rate. With the Oct-Dec 2026 SP rate at 28.59c before GST, after July to September's 31.91c, check each fixed offer against that figure; the gap is usually thin and the direction of fuel prices decides it. Run the numbers on your own consumption with the MoneyBees budget calculator before committing.
Watch the fine print that erases savings: early-termination fees (often a few hundred dollars), security deposits waived only on GIRO, auto-renewal at a higher rate, and a separate transmission or admin charge layered on top of the headline rate. Sign-up vouchers are one-off and should not swing a two-year decision.
Switching never interrupts your supply and there is no rewiring. The retailer arranges everything with SP, and SP still maintains the grid and handles outages. You can also switch back to the regulated tariff at any time. For a side-by-side of who is cheapest right now, see our retailer comparison, and to sanity-check your typical spend, our guide to the average Singapore utilities bill.
This guide gives SP's rate both with and without GST, currently 9%, and most retailer headline rates are quoted before GST. The 28.59c SP tariff becomes 31.16c on your bill once GST is added. When you compare a retailer's "28.80c" against SP's "31.16c", make sure you are comparing like for like, both with or both without GST. Our GST explainer covers how the tax applies to utilities.
Eligible HDB households also receive U-Save rebates under the GST Voucher scheme, paid directly into the SP account each quarter. These rebates apply whether you are on the SP tariff or an open-market plan, so they do not change the switch decision, but they do lower your net electricity outlay regardless of provider.
For 1 October to 31 December 2026 the SP regulated household tariff is 28.59 cents per kWh before GST, or 31.16 cents per kWh with 9% GST, down from 34.78 cents in July to September. SP Group revises this rate on the first of January, April, July and October each year.
SP Group resets the energy-cost component each quarter under the Energy Market Authority's guidelines to track natural gas prices, which fuel most of Singapore's electricity. Because gas is imported and priced off oil, the tariff imports global fuel swings on a roughly one-quarter lag.
Sometimes. When fuel prices are low, the regulated tariff is competitive and fixed plans sit only slightly below it. A switch saves money only if your plan's effective rate stays under the average SP tariff across the whole contract, after netting off deposits and exit fees.
No. SP Services buys electricity on your behalf at cost and bills you the regulated rate the EMA approves. The tariff is a pass-through covering generation, grid and market fees, not a retail margin. SP earns its return through the regulated network charge, not by marking up energy.
This is general financial information for Singapore, not personal financial advice. Figures change, so verify current rates against the official sources above before acting. See our full disclaimer.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).