Carbon tax is to decreases demand for goods and services that produce high emissions. It is supposed to make elecctricity companies feel the pinch so that they transit into alternatives which are less carbon intensive. But when power companies pass entire carbon tax to Sinkies to pay and sinkies have no alternatives (like solar or nuclear) is the policy actually meaningful? There is no additional cost for the companies since they pass everything to Sinkies, so where is the incentive for these companies to transit to cleaner energy?
So end of the day, PAP's coffers get bigger with additional tax monies but there is no transition to cleaner energy.
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https://www.straitstimes.com/singap...r-with-higher-gst-carbon-tax-and-energy-costs
SINGAPORE - Gas and electricity prices will go up for the next three months as a result of higher carbon tax, a scheduled increase in the goods and services tax (GST) and rising energy costs.
From Jan 1 to March 31, 2024, households supplied by SP Group will see a 5 per cent increase in electricity tariffs to 32.58 cents per kilowatt-hour (kWh) after GST, up from 31 cents currently.
After GST, town gas tariffs will also increase by about 4 per cent, to 25.23 cents per kWh, up from 24.21 cents per kWh currently, according to City Energy, the producer and retailer of piped gas.
Consumers who have standard fixed price plans with electricity retailers will not see any change in their electricity tariffs until they renew their contracts, said the Energy Market Authority (EMA) on Dec 29.
From 2024, the GST will increase to 9 per cent, up from 8 per cent currently, while the carbon tax will be raised to $25 per tonne of emissions, up from $5 per tonne of emissions currently.
“The carbon tax is part of a suite of measures to support Singapore’s transition to a low-carbon economy, by steering consumers and producers away from carbon-intensive goods and services, holding businesses accountable for their emissions, and enhancing the business case for the development of low-carbon solutions,” said EMA’s spokesman.
Power generation companies levied the carbon tax are expected to pass on some of the cost to electricity retailers like SP Group, which could then pass on these additional costs to customers. The National Climate Change Secretariat had in December forecast that the carbon tax hike would bring about a $4 increase in monthly household utility bills for a four-room Housing Board flat, assuming that the full cost of the tax is passed on to consumers.
So end of the day, PAP's coffers get bigger with additional tax monies but there is no transition to cleaner energy.
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https://www.straitstimes.com/singap...r-with-higher-gst-carbon-tax-and-energy-costs
SINGAPORE - Gas and electricity prices will go up for the next three months as a result of higher carbon tax, a scheduled increase in the goods and services tax (GST) and rising energy costs.
From Jan 1 to March 31, 2024, households supplied by SP Group will see a 5 per cent increase in electricity tariffs to 32.58 cents per kilowatt-hour (kWh) after GST, up from 31 cents currently.
After GST, town gas tariffs will also increase by about 4 per cent, to 25.23 cents per kWh, up from 24.21 cents per kWh currently, according to City Energy, the producer and retailer of piped gas.
Consumers who have standard fixed price plans with electricity retailers will not see any change in their electricity tariffs until they renew their contracts, said the Energy Market Authority (EMA) on Dec 29.
From 2024, the GST will increase to 9 per cent, up from 8 per cent currently, while the carbon tax will be raised to $25 per tonne of emissions, up from $5 per tonne of emissions currently.
“The carbon tax is part of a suite of measures to support Singapore’s transition to a low-carbon economy, by steering consumers and producers away from carbon-intensive goods and services, holding businesses accountable for their emissions, and enhancing the business case for the development of low-carbon solutions,” said EMA’s spokesman.
Power generation companies levied the carbon tax are expected to pass on some of the cost to electricity retailers like SP Group, which could then pass on these additional costs to customers. The National Climate Change Secretariat had in December forecast that the carbon tax hike would bring about a $4 increase in monthly household utility bills for a four-room Housing Board flat, assuming that the full cost of the tax is passed on to consumers.
