Half of Hong Kong households to receive electricity subsidies as global fuel prices surge

Approximately half of Hong Kong's residential households will receive a special electricity subsidy for three consecutive months starting this August, as the city's two power companies introduce relief measures to cushion the impact of rising global energy costs triggered by ongoing tensions in the Middle East.

CLP Power announced a special fuel rebate program running from August through October, specifically targeting residential customers who consume 900 kilowatt-hours or less per billing cycle. 

Eligible households will receive a rebate of eight cents per unit of electricity.

The utility company is financing the initiative with an estimated HK$80 million to HK$90 million drawn from the CLP Community Energy Saving Fund. 

Based on an average household consumption of 450 units a month, qualified customers can expect to save over HK$100 across the entire rebate period. 

Similarly, HK Electric will roll out its own special electricity subsidy during the same three-month window. 

The provider will offer an eight-cent subsidy per unit of electricity for residential customers who use 450 kilowatt-hours or fewer each month. 

This Special Electricity Subsidy measure is entirely financed by the company's Smart Power Care Fund and is also projected to benefit around fifty percent of its residential customer base. 

These relief initiatives arrive as local consumers face mounting utility bills driven by volatile international fuel markets. 

For CLP customers, the average net electricity tariff reached 144.7 cents per unit in July, marking a 2.9 percent increase since January, while its fuel adjustment charge also ticked upward. 

HK Electric customers are experiencing an even sharper surge, with the utility's July fuel adjustment charge soaring by nearly 34 percent, jumping an additional 10.6 cents per unit compared to the previous month.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓