On 1 Oct 2008, the Singapore government announced a 21% electricity tariff hike despite Singapore Power reported more than S$1 billion net profit after taxation.
I posted an earlier post last month on Singapore Power and the local power generation companies profitability. They are public utilities companies and should be for-people instead of for-profit. The Singapore government could have done better like the Hong Kongers. Hong Kong instead of increasing electricity tariff, they lower theirs!
Singapore still has a long way to go.
Why 20% hike despite $1 billion profit? [via]
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