Electricity prices increase by almost 3 seniti
- Details
- Category: Economic Releases
- Created: 27 July 2015
| Electricity Prices July 2015 |
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| Seniti | Jul 15 |
Jun 15 |
May 15 |
Apr 15 |
| Electricity * | 83.11 | 80.15 | 80.15 | 75.00 |
| * Electricity prices are per Kilowatt hour |
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Electricity prices increase by almost 3 seniti
Electricity prices rose by 3.69% (2.96 seniti) to 83.11 seniti, effective 1st July 2015 due to the increase in the price of diesel over June. This is the second increase in electricity prices since December 2013. Brent Crude oil prices rose by 11.7% over May but dropped by 2.6% over June. The increase of crude prices over May could have contributed to the rise in electricity. Furthermore, despite the drop of global oil prices over June, the Tongan Pa’anga depreciated against the U.S. Dollar which would have exacerbated costs.
In annual terms, electricity prices dropped by 8.4% (9 seniti) as a result of the general decline in world oil prices. The NRBT expects that the yearly fall in electricity prices will further ease the headline inflation rate by around 1.4 percentage points.
| Electricity Prices | ||||||
| As at month (Seniti per Kilowatt Hour) |
1 month change |
1 year change |
||||
| Jul 15 |
Jun 15 |
May 15 |
Jul 14 |
% |
% |
|
| Electricity | 83.11 | 80.15 | 80.15 | 91.73 | 3.7 | -8.4 |
| Contribution to inflation (ppts) * |
N/A | N/A | N/A | N/A | 0.6 | -1.4 |
| * NRBT estimate Sources: Tonga Power Limited |
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Download the Electricity Prices report for May for more information.
