[LOL] Sinkie stir on FB that SP Group lying about energy cost of 9.3% electricity tariff

[Tayliatorhard]

What I find it strange when natural gases prices goes down, they seldom adjust down, but when prices go up, they sure very quick to adjust up.

Also, last time I remember when oil prices go up, they also adjust up saying oil prices costs going up. Strange isn't it because Singapore electricity is generated using natural gas and not oil but they adjust up because oil goes up

I am not sure whether is it that their costs are high because of hedging (just like SIA - hedged too early for too long period at too high costs)?

What’s so strange?

Need to do provision for increment and bonus!

 

[Tayliatorhard]

Let me explain lah


You see, EMA already gave the details, tariffs not just based on fuel costs. Now with COVID, have to add in cost of safety measures.

With fewer flights, it is also more expensive to transport oil and gas from other parts of the world mah.

Also due to GE2020 complaints, now harder to hire FTs, have to hire lazy, untalented, more expensive and slower Sinkies. Plus gahmen committed to 100K jobs so companies have to help hire more Sinkies. Net effect is cost of manpower has gone up significantly. Want cheaper electricity, please petition your MP to ask MOM to allow lower wages for SPasses and more quota for FTs to enter SG!

Errr you sure they fly in fuel?

What’s the oil tankers doing around our ports? There were reports a few months back the production over demand & that oil are sitting floating around our countries and they do not have enough storage for it.

 

[silver09]

Joke sia what they pegged against. Anything goes down, our electricity will also go up

Must be some negative exponential formula.... Lol. Must be a great mathematician that come up with it.

“Ngiam, are you the Permanent Secretary of the Budget and Revenue Divisions at MOF?” I said yes, to which he replied, “What’s wrong with collecting more money?”” - Lee Kwan Yew

 

[rilo]

Blank cheque

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[trevlim]

all these companies jin song, no up 1 or 2%, one time can up 10-30% one...pcb greedy blood suckers

 

[K20A]

Lol, what's so surprising? Election over mah.

 

[jinmuddy]

Just pay up lah u kumgong sinkies kaopeh for ****.

 

[moonraiser]

I think the miws are not telling us the whole pic and outright lying.

They tell us Singapore electricity bill peg to gas price. I am 40 years old. As far as i can recall electricity price always go up whenever the gas OR oil prices goes up.

 

[arsenalontop]

I worry for the miw in the next ge. Secretly excited.. Kum weng woking many 61% heheh

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[virtualape]

he deserves the medal of honor. lets see how long he can continue posting.

 

[caelitus]

But they always increase the price whenever there's a surge in oil price.

There are regional markets for natural gas with wide variations in prices. In Southeast Asia, natural gas are priced using a combination of natural gas and crude oil prices, and sometimes coal prices.

 

[caelitus]

Long read but the S&P report is useful and highlights why natural gas market in Asia is problematic.

https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/120419-singapores-gas-pricing-dilemma-exacerbated-by-imo-2020?fbclid=iwar0_ukhcpjstlyzw_ygd-r9przh7eljgfpdjotjcfxl2_ulqoqcjo4c9_0q

 

[Eureka75]

Was natural gas hedged against crude oil and coal?

Warms the shellfish of my heart HardwareZone Forums app

 

[matrix05]

Was natural gas hedged against crude oil and coal?

Warms the shellfish of my heart HardwareZone Forums app

Another SIA hedging mistakes but passing to consumers to pay?

Demand shd be down from poor economy, why price goes up?

 

[PaulLevesque]

Nobody repair him ah?

 

[kokjj87]

They peg against their management salary and bonus la. Every year increase Gao Gao Mao.

 

[attitudel]

Let me explain lah


You see, EMA already gave the details, tariffs not just based on fuel costs. Now with COVID, have to add in cost of safety measures.

With fewer flights, it is also more expensive to transport oil and gas from other parts of the world mah.

Also due to GE2020 complaints, now harder to hire FTs, have to hire lazy, untalented, more expensive and slower Sinkies. Plus gahmen committed to 100K jobs so companies have to help hire more Sinkies. Net effect is cost of manpower has gone up significantly. Want cheaper electricity, please petition your MP to ask MOM to allow lower wages for SPasses and more quota for FTs to enter SG!

Lol FT troll spotted. Flights used for oil n gas sia. And U mean the power companies already hired SGrean thus the increase?

 

[furyoo]

Long read but the S&P report is useful and highlights why natural gas market in Asia is problematic.

https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/120419-singapores-gas-pricing-dilemma-exacerbated-by-imo-2020?fbclid=iwar0_ukhcpjstlyzw_ygd-r9przh7eljgfpdjotjcfxl2_ulqoqcjo4c9_0q

Yep. Term agreements for import natural gas pegged to HSFO 180 cst. Hence, not directly linked to Crude Oil.


I have no idea why it's linked to HSFO. Feels like a legacy thing.

 

[FlameEvil]

Up for wanbao

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[Zink00]

If u go see natural gas price, it did spike up from 1.7 to 2.5.
This guy only make himself look stupid.