As an extension of the utilities rebates given to HDB households from 1997 to 2000, the government will be giving utilities rebates totalling $350 to households living in 1 to 3-room HDB flats, $300 to households living in 4-room flats and $250 to households living in 5-room flats. These will be given in 10 equal monthly payments from July 2001 to April 2002. There will be two months in the year in which households have to make full payments, so that they will be encouraged to save on water and electricity. As such, this scheme will be renamed Utilities Save.

Households living in 1 to 3-room HDB flats will get $35 a month, those in 4-room HDB flats $30 a month and those in 5-room HDB flats $25 a month. Any unutilised amount of the Utilities Save given in any month will be rolled over to be used in the subsequent months. This Utilities Save scheme is more generous than the $100 and $200 utilities rebates given last year and amounts to a total of $226 million.