F1 over, electricity up 21%, first payment.

[Froggy]

Just one day after F1 over, announcement of 21% increase in electricity price despite oil price down. Is this the beginning of F1 "payback time"?

 

[silverspoon]

Just one day after F1 over, announcement of 21% increase in electricity price despite oil price down. Is this the beginning of F1 "payback time"?

This is the OT payment for our honorable PM as he need to spend his precious time standing there to give out the stupid trophies which he dun even have much strength to carry and nearly dropped it

 

[Wobble]

cost of putting up F1 now to be recouped.........

 

[wikiphile]

Just one day after F1 over, announcement of 21% increase in electricity price despite oil price down. Is this the beginning of F1 "payback time"?

CCB, the pricing is based on fuel oil which is still bloody expensive and not crude oil prices

 

[2lanu]

It's not link to F1 lah. Still remember in July when the GST was also given out? Electricity bill also suddenly up and many complained but also become silence now.

Now 3 months later, it's another round.

 

[eQuipment]

Just one day after F1 over, announcement of 21% increase in electricity price despite oil price down. Is this the beginning of F1 "payback time"?

the entire race route lined with thousands of floodlights, each averaging 400watts or above. they operated the floodlights weeks before the race, until the practice night, the qualifying night, and finally the race night.

they claim that the F1 was a success that spun millions of takings, but after working out the maths for costs incured - to pave the tarmac, costs for the floodlights, scarefoldings, barricade, fencing, spectator stands, cisco manpower, traffic marshalls, utility operations, media coverage & promotion, cleaning agency........... etc. then they realise, debit exceeded credits.

so now, its pay-back time, from who else? the people's pockets.

 

[zhihau]

Just one day after F1 over, announcement of 21% increase in electricity price despite oil price down. Is this the beginning of F1 "payback time"?

what's 60% of 150M???

 

[DrPanacea]

It is vey easy to increase electricity and water tariff when your are a monopoly.
These people only know how to increase price. They have conveniently forgotten how to decrease cost. It is quite certain that fat cats in the board are drawing fat cheques and the tax paying public are being punished for mistakes made by the fat cats.

Same for NTUC taxis and public housing and public transport.

 

[High till Dry]

everytime when we got freebies, we are slap at the same time.

goat's hair came from goat

 

[The_Latest_H]

It is vey easy to increase electricity and water tariff when your are a monopoly.
These people only know how to increase price. They have conveniently forgotten how to decrease cost. It is quite certain that fat cats in the board are drawing fat cheques and the tax paying public are being punished for mistakes made by the fat cats.

Same for NTUC taxis and public housing and public transport.

As I said before, natural monopolies, such as public housing, utilities must be treated with special delicacy. In this, while you want the efficiency of a corporation in these kind of "markets", you also have to be careful about equity. Therefore you need to balance between service and efficiency and ensure you deserve an equal dose of both.

That's why if the conduct is more benefiting of what is a natural monopoly and that some free market principles do not apply in these monopolies, then I believe general citizens would reap the benefits.

Similarly in industries where its possible to have a free market, ran by free market advocates in line with free market principles, then with government as the overall regulator to reduce abuse, the free market actually lowers costs and improves market competitiveness at the same time.

So believe me, I think this rise is unjustifable because in some industries, such as this, free market principles cannot be applied wholesale. Its wrong after all.