Have you ever wondered why you pay the price of electrical energy even though it can neither be destroyed nor be created? You pay the price for the conversion of energy into electricity. Regardless of the area that you reside in, you have to pay the cost for it. And if you live in a country like Singapore, then singapore electricity price is what you must be considering.
It depends upon the following factors:-
- Source: It highly depends on the source of the electricity generated. Energy conversion can take place in ways, like hydropower, tidal power, solar power, etc. The more the cost of production, the more would be the price. If the production technology is the latest, then it again increases the cost.
- Import: Sometimes raw materials like coal are imported from foreign that adds to the cost.
- Location: Remote locations often cause the price to rise as transportation cost increases with the increase in distance. Other related prices increase too.
- Market: We often ignore the factor of the market but it is one of the most influencing reasons why prices vary from one place to another. Inflation/deflation and other economic reasons influence the price of electrical power.
- Taxes: Tariffs and taxes are indirect and hidden charges that one needs to pay. Government is the authority that decides it.
- Use: The retailer may increase or decrease the price according to the usage. They often reduce the price if purchased in bulk.
Singapore Electricity Price differs a lot according to the situations and many other factors. They are given above for your reference.