HK Electric’s fuel adjustment charge will rise by 3.4 Hong Kong cents to 60.7 cents per unit in September, while CLP Power’s will increase by 0.1 cent to 45.1 cents per unit. The new charges take effect on 1 September.
CLP said its increase mainly reflects actual fuel-price changes over the preceding three months. HK Electric said its September charge reflects fuel costs incurred from May to July because its monthly adjustment mechanism passes costs through with a delay.
HK Electric’s average net tariff for September, including the basic tariff, is 188.6 cents per unit, 1.8 per cent higher than in August.
CLP is offering an eight-cent-per-unit fuel rebate from August through October to residential customers using no more than 900 units a month. About half of eligible residential customers are expected to benefit. For qualifying customers, the September fuel charge after the rebate will be 37.1 cents per unit.
A household using about 450 units a month would receive more than HK$100 in CLP rebates over the three-month period, CLP said.
RTHK reported that HK Electric is offering a separate eight-cent-per-unit electricity subsidy from August through October to customers using 450 units or less a month.
HK Electric said liquefied natural gas spot prices have more than doubled since geopolitical tensions began earlier in the year and are continuing to rise. It expects fuel adjustment charges to remain relatively high in the coming months.