CitiNews: Electricity Tariffs to Rise
Electricity tariff is set to increase by more than 20%.
Transport fees will be increasing as well.
Well, when the government decided to privatise transport and power supply, the promise then was to ensure fair competition to bring more benefits to the people on the street due to competitive pricing. What do we have here? Monopolistic and ( Read more... )
Transport fees will be increasing as well.
Well, when the government decided to privatise transport and power supply, the promise then was to ensure fair competition to bring more benefits to the people on the street due to competitive pricing. What do we have here? Monopolistic and ( Read more... )
Pl allow me to make a small correction on ur number.
Singapore Power’s Net Profit After Taxation increased by 72 per cent from $ 630 million in FY 03/04 to $ 1.086 billion in FY 07/08 - an annualised increase of about 15 per cent per annum. The $$ is in billion, not million.
And this sum is even greater than the original projected increase in revenue from the 2 per cent increase in GST last July to help the needy.
Several of my pet peeves
1. Since Singapore Power and the power generation companies (before their sale) are in a sense, owned by the state, why is the state making a whopping $ 1.604 billion in profits in a year, from providing a monopolistic essential good to Singaporeans ?
2 Instead of just announcing tariff increases due to fuel prices, why didnt they also annouce the projected increase in profits to be made ?
3. What’s the point of announcing a 50 per cent increase in the U-Save rebate on national day, only to see it being eroded by the subject tariff increase just a month plus after ?
In a nutshell, they will not take red ink in their acct book. The red inks are only to be in the peasant's books.
Fuckers !!
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