Singaporean households are urged to consume less electricity as costs are expected to increase as a result of the doubling of fuel prices. Over the past two and a half years, fuel costs have more than doubled, having an effect on nations all over the world, including China, Japan, Britain, and the European Union. Singapore will be impacted by changes in energy market prices because it imports almost all of its energy.
The Household Support Package with electricity rebates singapore was launched in Budget 2022 as one of the Government’s many initiatives to assist civilians in managing rising costs. Its purpose is to lessen the immediate effects of inflation.
- GSTV – U-Save refunds have been doubled to help pay for utilities
Eligible Singaporean households living in HDB flats who do not own or have any interest in more than one property will receive twice the regular GST Voucher – U-Save rebates in FY2022 to further reduce their utility costs. This is in addition to the Assurance Package (AP) for GST. Each quarter, these rebates will be paid straight into the utilities account for each HDB flat.
- CDC vouchers for basic necessities
Every Singaporean household will be able to utilize $100 worth of CDC vouchers starting in May 2022 at participating heartland shops and hawkers. Additionally, there are the $100 CDC vouchers that were given out in December 2021.
- Education account top-ups
Every Singaporean child aged 20 and under will receive a one-time $200 top-up to their Child Development Account (CDA), Edusave account, or Post-Secondary Education Account this year from the government to help with additional education-related costs (PSEA).
After switching to a retailer, customers can still use their U-Save rebates to reduce their electricity costs.
The U-Save rebates will be used to initially offset the non-electricity charges (water, gas, and refuse collection) that consumers who are billed directly by their retailer have with SP Group.
The remaining U-Save refunds will subsequently be applied to their electricity costs.