Electricity Tariff is too High

My heart aches this month as I pay for the electric bill.

The price of electricity is at the moment still tagged to $155/barrel when the open market price as of now, at 1 Jan 2009 11pm, is at most $45.

Even after the revision, which has yet to take effect, Singaporeans will still be charged based on $92/barrel. This is more than double the actual price of as at this moment.

Rather puzzling, don't you think?