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HK power fuel surcharges climb again, prompting SME subsidy calls
HK Electric raised its September fuel clause charge to 60.7 HK cents per kWh, a 78.5% jump since March, while CLP Power lifted its surcharge to 45.1 cents per unit.
Calls are growing in Hong Kong for subsidies to help small and medium-sized enterprises as electricity fuel surcharges rise again amid the Middle East conflict, squeezing operating costs for shop owners. An industry leader and a lawmaker said the burden is becoming harder to pass through to customers as profits come under pressure. Hong Kong Small and Medium Enterprises Association honorary president Pamela Mak Mei-yee said rising costs inevitably hit merchants, and where they cannot fully pass the increase to buyers, margins are “squeezed further.”
Hong Kong Electric said its fuel clause charge would increase by 5.9% from last month to 60.7 HK cents per kWh in September. The company noted this is the fourth consecutive monthly rise since May, taking the charge up about 1.3 times from 26 cents per kWh three months ago, which it characterized as a 78.5% increase since March. Separately, CLP Power said its September fuel cost would rise to 45.1 cents per unit. It said the surcharge has increased 15% since March, from 39.2 cents per unit, and has climbed for six straight months, affecting customers across Kowloon, the New Territories, Lantau and other outlying islands, according to SCMP Economy.