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Sammy Heung

Hong Kong’s two electricity suppliers have announced relief measures to ease the financial burden of low-income families, with the firms expected to reveal their tariff plans for next year on Tuesday.
CLP Power, the larger of the firms, on Monday said it would budget HK$70 million (US$9 million) to support low-income families in 2024.
HK Electric said it had earmarked HK$55 million to promote its decarbonisation initiatives including cash coupons for needy households next year.
The Legislative Council’s environmental affairs panel will on Tuesday discuss the outcome of an interim review of the regulatory regime, known as scheme of control agreements, covering the power firms.

The companies will also be expected to announce tariff adjustments for 2024 based on their five-year capital expenditure plans to 2028.
The government said during the interim review that it aimed to negotiate with the two firms to amend the agreements, by lowering their permitted returns, requiring them to share fuel costs in the event of an energy crisis and to look at the carrot and stick mechanism for power outage incidents.
At the panel meeting, the companies will also be expected to divulge their next five-year capital expenditure plan to 2028 following vetting by the city’s key decision-making Executive Council.
CLP’s last five-year plan amounted to expenditure of HK$52.9 billion with HK Electric at HK$26.58 billion.
The development plans are a key part of the scheme of control regime, which ties the companies’ returns to investments in electricity supply, energy efficiency and reliability.
Power bill cuts not enough to help Hong Kong Island’s poorest residents: NGO
CLP and HK Electric are allowed to earn an annual 8 per cent return on their average net fixed assets for that year. Fuel costs are borne by consumers.
CLP, which serves customers in the New Territories, Kowloon and most outlying islands, said more than HK$200 million would be set aside from the CLP Community Energy Saving Fund in 2024 for a series of programmes to help the needy and promote energy conservation.
It said out of the HK$70 million reserved for low-income families next year, HK$50 million would be used to provide a tariff subsidy of HK$600 to 50,000 elderly singles and couples, low-income families and people with disabilities.
“Although Hong Kong society has returned to normal after the pandemic, grass-roots families still face great challenges,” chief corporate development officer Quince Chong said.
If you ask whether the measures can help them a great deal, I wouldn’t say so
Esther Wu, Society for Community Organisation
The firm said 20,000 subdivided-flat households would also receive a tariff allowance of HK$1,000.
It said about 580,000 households with low electricity consumption and users enjoying a concessionary tariff for the elderly would receive a HK$100 electronic voucher next year which could be spent in around 1,000 shops and restaurants.
A total of HK$30 million would also be laid aside to subsidise small and medium-sized enterprises to install more energy efficient lighting and air conditioning.
HK Electric, which supplies consumers on Hong Kong and Lamma islands, said 10,000 households with financial needs and those who joined its concessionary tariff schemes would receive a set of HK$200 cash vouchers for buying daily necessities next year.
Why are Hong Kong lawmakers demanding change, scrutiny of power companies?
“Though Hong Kong’s economy is recovering, there are still many challenges ahead, with low-income families suffering the most,” HK Electric customer services general manager Raymond Choi said.
“HK Electric will offer financial relief while encouraging them to save energy and lead a low-carbon lifestyle.”
The firm said a full subsidy capped at HK$200,000 per premises would be given to NGOs and schools to install solar photovoltaic systems from next year and they would be able to enjoy the feed-in tariff.
It said it would continue to provide one-off relief of HK$1,000 to 1,200 subdivided-flat residents to cover their electricity charges, as well as subsidies capped at HK$15,000 per subdivided flat or HK$60,000 per flat before subdivision for the tenants or owners to rewire or install its tariff meters.
Society for Community Organisation community organiser Esther Wu Ka-yi said due to higher fuel charges this year, she expected needy households would welcome the support measures.
“But compared to the increase in fuel charges, if you ask whether the measures can help them a great deal, I wouldn’t say so. But it is understood that these suppliers are commercial companies,” she said.


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Hong Kong

CLP Power says it will budget HK$70 million to support low-income families in 2024 while HK Electric has earmarked HK$55 million for initiatives
Lawmakers are set to discuss outcome of an interim review of regulatory agreements covering two firms on Tuesday


CLP Power says it will budget HK$70 million to support low-income families in 2024 while HK Electric has earmarked HK$55 million for initiatives.


Hong Kong electricity suppliers offer relief measures for needy, with firms expected to reveal tariff adjustments for 2024

CLP Power says it will budget HK$70 million to support low-income families in 2024 while HK Electric has earmarked HK$55 million for initiatives Lawmakers are set to discuss outcome of an interim review of regulatory agreements covering two firms on Tuesday

CLP Power says it will budget HK$70 million to support low-income families in 2024 while HK Electric has earmarked HK$55 million for initiatives

Lawmakers are set to discuss outcome of an interim review of regulatory agreements covering two firms on Tuesday