Changes to electricity and gas rates from 2004 to 2015

I stumbled onto a bill from SP Services dated 17 August 2004. This was some 10 years back. I therefore looked at the bill for the rates used to charge consumers on usage of household electricity and gas.

I compared these rates with the latest 22 March 2015 bill. The rates are in the table.

Mth/Year Electricity ($) Gas ($)
08/2004 0.1635 0.1523
03/2015 0.2329 0.1902
Change 42.4% 24.9%

Over the decade, rate for electricity went up by 42.4%. Rate for gas went up by 24.9%.

How does this compare with changes in inflation rates over the same period? The measure of inflation is based on Consumer Price Index (CPI).

Year CPI
2004 76.9
2014 100.0
30.0%

Between 2014 and 2004, headline CPI rose 30.0%. Electricity rates went higher than CPI changes (42.4% against 30.0%). Rate for gas is lower (24.9% against 30.0%).

Even without the knowledge of this, we are watching how we spend on electricity and gas. This is one way to save money and from an ecological angle, we are reducing carbon footprint and conserving limited earth resources.

Copyright © 2015, limkimtong for Living Investment

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