HK Electric cuts November fuel adjustment as CLP raises its rate

The November fuel adjustment from HK Electric will fall by 4.2 cents to 55.1 cents per unit. CLP’s rate will rise by 1.2 cents to 47.4 cents, its eighth consecutive monthly increase; it remains below HK Electric’s.

HK Electric’s average net electricity charge includes the basic charge and is a separate figure from its fuel adjustment. The November average is 183 cents per unit, 2.2% lower than in October.

HK Electric said its November adjustment mainly reflects actual fuel costs from July to September, because the monthly adjustment mechanism operates with a lag.