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Hong Kong power firms lift fuel charges in September amid energy volatility
HK Electric said its fuel clause charge will rise to 60.7 Hong Kong cents per kWh in September, the fourth straight monthly increase since May.
Hong Kong’s two electricity suppliers, CLP Power and HK Electric, will raise fuel-related charges starting next month, citing geopolitical tensions and volatility in international energy markets, according to SCMP Economy.
HK Electric said its fuel clause charge will increase to 60.7 Hong Kong cents, or 7.74 US cents, per kilowatt-hour in September. It will rise by 3.4 cents, or 5.9%, from August, marking the fourth consecutive monthly increase since May.
The company also said the average net tariff will climb to 188.6 cents per unit in September, up 1.8% from August. SCMP Economy reports that HK Electric and CLP have introduced rebate and relief schemes as rising electricity costs lift air-conditioning expenses for households.
HK Electric attributed the move to continued volatility in international energy prices, saying spot liquefied natural gas prices have more than doubled compared with pre geopolitical levels earlier this year and are still rising.
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