{"_meta":{"title":"Singapore Average Monthly USEP 2022-2026","description":"Wholesale electricity price (Uniform Singapore Energy Price) — what generators receive, NOT the SP consumer tariff. Published by EMA / Energy Market Company.","source":"Energy Market Authority (EMA) Singapore Energy Statistics Chapter 5","url":"https://www.ema.gov.sg/resources/statistics/average-monthly-uniform-singapore-energy-price","unit":"SGD/MWh","last_updated":"2026-06","license":"Public — ema.gov.sg","note":"SP Group consumer tariff is S$0.3191/kWh before GST (S$0.3478 with GST) in Q3 2026 — a record high. Wholesale USEP monthly averages more than doubled from S$95.1/MWh (Dec 2025) to S$206.1/MWh (1-25 Jun 2026).","tariff_source":"SP Group / SINGSTAT monthly electricity tariff dataset (data.gov.sg), household low-tension, before GST"},"monthly":[{"month":"2022-01","usep":480.2},{"month":"2022-02","usep":261.7},{"month":"2022-03","usep":309.5},{"month":"2022-04","usep":365.5},{"month":"2022-05","usep":310.2},{"month":"2022-06","usep":215.3},{"month":"2022-07","usep":360.3},{"month":"2022-08","usep":227.9},{"month":"2022-09","usep":230.6},{"month":"2022-10","usep":253.2},{"month":"2022-11","usep":274.4},{"month":"2022-12","usep":207.4},{"month":"2023-01","usep":221.0},{"month":"2023-02","usep":222.0},{"month":"2023-03","usep":339.3},{"month":"2023-04","usep":324.0},{"month":"2023-05","usep":492.1},{"month":"2023-06","usep":305.2},{"month":"2023-07","usep":167.5},{"month":"2023-08","usep":158.8},{"month":"2023-09","usep":208.6},{"month":"2023-10","usep":221.3},{"month":"2023-11","usep":177.7},{"month":"2023-12","usep":131.4},{"month":"2024-01","usep":107.7},{"month":"2024-02","usep":135.7},{"month":"2024-03","usep":235.1},{"month":"2024-04","usep":288.7},{"month":"2024-05","usep":241.0},{"month":"2024-06","usep":182.8},{"month":"2024-07","usep":123.2},{"month":"2024-08","usep":105.7},{"month":"2024-09","usep":113.2},{"month":"2024-10","usep":174.1},{"month":"2024-11","usep":123.7},{"month":"2024-12","usep":127.2},{"month":"2025-01","usep":101.5},{"month":"2025-02","usep":108.9},{"month":"2025-03","usep":107.2},{"month":"2025-04","usep":115.7},{"month":"2025-05","usep":166.4},{"month":"2025-06","usep":130.9},{"month":"2025-07","usep":121.6},{"month":"2025-08","usep":103.6},{"month":"2025-09","usep":106.5},{"month":"2025-10","usep":102.0},{"month":"2025-11","usep":139.7},{"month":"2025-12","usep":95.1},{"month":"2026-01","usep":118.6},{"month":"2026-02","usep":132.9},{"month":"2026-03","usep":160.4},{"month":"2026-04","usep":194.5},{"month":"2026-05","usep":181.1},{"month":"2026-06","usep":206.1,"note":"1-25 Jun, computed from NEMS half-hourly extract"}],"quarterly_spread":[{"quarter":"2022-Q1","avg_usep_mwh":350.5,"sp_tariff_kwh":0.2544,"usep_kwh":0.3505,"spread_kwh":-0.0961,"note":"Energy crisis — wholesale far exceeded the regulated tariff"},{"quarter":"2022-Q2","avg_usep_mwh":297.0,"sp_tariff_kwh":0.2794,"usep_kwh":0.297,"spread_kwh":-0.0176},{"quarter":"2022-Q3","avg_usep_mwh":272.9,"sp_tariff_kwh":0.3017,"usep_kwh":0.2729,"spread_kwh":0.0288},{"quarter":"2022-Q4","avg_usep_mwh":245.0,"sp_tariff_kwh":0.2974,"usep_kwh":0.245,"spread_kwh":0.0524},{"quarter":"2023-Q1","avg_usep_mwh":260.8,"sp_tariff_kwh":0.2895,"usep_kwh":0.2608,"spread_kwh":0.0287},{"quarter":"2023-Q2","avg_usep_mwh":373.8,"sp_tariff_kwh":0.2743,"usep_kwh":0.3738,"spread_kwh":-0.0995,"note":"May 2023 wholesale spike to SGD 492/MWh"},{"quarter":"2023-Q3","avg_usep_mwh":178.3,"sp_tariff_kwh":0.2774,"usep_kwh":0.1783,"spread_kwh":0.0991},{"quarter":"2023-Q4","avg_usep_mwh":176.8,"sp_tariff_kwh":0.287,"usep_kwh":0.1768,"spread_kwh":0.1102},{"quarter":"2024-Q1","avg_usep_mwh":159.5,"sp_tariff_kwh":0.2989,"usep_kwh":0.1595,"spread_kwh":0.1394},{"quarter":"2024-Q2","avg_usep_mwh":237.5,"sp_tariff_kwh":0.2979,"usep_kwh":0.2375,"spread_kwh":0.0604},{"quarter":"2024-Q3","avg_usep_mwh":114.0,"sp_tariff_kwh":0.2988,"usep_kwh":0.114,"spread_kwh":0.1848,"note":"Widest retail-wholesale spread in the series (S$0.185/kWh)"},{"quarter":"2024-Q4","avg_usep_mwh":141.7,"sp_tariff_kwh":0.291,"usep_kwh":0.1417,"spread_kwh":0.1493},{"quarter":"2025-Q1","avg_usep_mwh":105.9,"sp_tariff_kwh":0.2812,"usep_kwh":0.1059,"spread_kwh":0.1753},{"quarter":"2025-Q2","avg_usep_mwh":137.7,"sp_tariff_kwh":0.2812,"usep_kwh":0.1377,"spread_kwh":0.1435},{"quarter":"2025-Q3","avg_usep_mwh":110.6,"sp_tariff_kwh":0.2747,"usep_kwh":0.1106,"spread_kwh":0.1641},{"quarter":"2025-Q4","avg_usep_mwh":112.3,"sp_tariff_kwh":0.2755,"usep_kwh":0.1123,"spread_kwh":0.1632},{"quarter":"2026-Q1","avg_usep_mwh":137.3,"sp_tariff_kwh":0.2671,"usep_kwh":0.1373,"spread_kwh":0.1298},{"quarter":"2026-Q2","avg_usep_mwh":193.0,"sp_tariff_kwh":0.2727,"usep_kwh":0.193,"spread_kwh":0.0797,"note":"Computed from NEMS half-hourly data, 1 Apr - 25 Jun. Wholesale +40% QoQ on Middle East gas costs; Q3 tariff followed at S$0.3191/kWh"}],"intraday_2026_h1":{"description":"Half-hourly USEP statistics, 1 Jan - 25 Jun 2026, computed from NEMS extracts (Energy Market Company). Shows the duck-curve gap between the midday solar-export window and the evening peak when solar homes buy back from the grid.","solar_window_10_16_avg_mwh":147.0,"evening_peak_19_23_avg_mwh":185.1,"evening_premium_vs_solar_window_pct":26,"max_half_hour_mwh":1208.2,"max_half_hour_date":"2026-05-18","days_with_half_hour_above_500_mwh":14,"days_with_half_hour_above_1000_mwh":4,"implication":"Solar homes without storage export during the cheapest hours of the day and import during the most expensive; a home battery arbitrages this published curve."}}