CLP pays dividend as sales edge up

Business | Winnie Lee 18 May 2021

CLP (0002) will pay a dividend of HK$0.63 per share after its electricity sales in Hong Kong edged up by nearly 1 percent year-on-year in the first quarter.

Hong Kong electricity sales totaled 6,821GWh, an increase of 0.9 percent, thanks to higher demand from the residential sector due to people staying and working from home.

This was also driven by a colder-than-usual January and an exceptionally warm March.

Residential sales jumped 17 percent.

However, electricity sales in the commercial sector were down 5.4 percent and that of the infrastructure and public service sector dived by 3.2 percent as anti-pandemic measures continued to impact electricity sales in restaurants, hotels, retail, schools, and public amenities.

Amid the ongoing growth in user demand for cloud-based services such as e-commerce and video conferencing, electricity sales to data center operators continued to increase.

The mainland China operation continued to recover, supported by stable performance.

Meanwhile, CLP India increased generation from its solar energy portfolio in the first quarter thanks to output from two solar assets acquired in 2020.

It said electricity demand in India has recovered from the low levels recorded during the national lockdown in 2020.



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