CLP Power and HK Electric raise fuel surcharges for Sep

Hong Kong’s two power utilities have announced their fuel surcharge adjustments for September, with CLP Power increasing its rate by 0.1 cent and HK Electric raising its rate by 3.4 cents per unit of electricity. 

CLP Power’s fuel surcharge will rise by 0.2 percent month-on-month to 45.1 cents per unit. Meanwhile, HK Electric will increase its fuel clause charge by 5.9 percent to 60.7 cents per unit, marking the company's fourth consecutive monthly increase.

Both companies stated that the September adjustments reflect actual fuel costs incurred between May and July.

According to HK Electric, international energy prices remain volatile with spot prices for liquefied natural gas more than doubling since the onset of geopolitical tensions earlier this year. 

Because fuel costs are progressively passed on to consumers through the fuel adjustment fee mechanism, the utility expects charges to remain elevated in the near term.

To cushion the impact on consumers, both providers have introduced temporary rebate programs. CLP Power will offer an 8-cent-per-unit rebate from August through October for residential customers who consume 900 units or fewer per billing cycle.

This scheme is expected to benefit about 50 percent of eligible households, bringing their effective September fuel charge down to 37.1 cents, which is lower than the rate in January. For a household using an average of 450 units a month, this rebate translates to savings of more than HK$100 over the three-month period.

Meanwhile, HK Electric is providing an 8-cent-per-unit subsidy from August through October for residential customers who use 450 units or fewer per month. For a household consuming 450 units, the net monthly electricity bill next month will increase by HK$15.3 compared with August, even after accounting for the subsidy.

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