Hong Kong residents to get up to 6.7% off electricity bill in September

Hong Kong residents will pay a smaller electricity bill in September, with some having prices cut by up to 6.7 per cent compared with January, after the city’s two power companies adjusted fuel costs in response to geopolitical tensions.

HK Electric, which supplies energy to users on Hong Kong Island and Lamma Island, said on Monday that September’s bill would have an average net tariff per kilowatt-hour that was 6.7 per cent lower than in January.

Meanwhile, customers with CLP Power, which serves Kowloon, the New Territories and some outlying islands, will pay 2.4 per cent less in September than in January, after the company’s monthly fuel cost fell 7.3 per cent to 42.9 HK cents (5 US cents) per kWh, according to its website.

CLP supplies electricity to more than 80 per cent of Hong Kong’s 7.5 million-strong population.

The prices of natural gas and coal, which account for the bulk of HK Electric’s fuel resources and some of those used by CLP, declined in recent months from their peak at the beginning of this year, following geopolitical trade tensions.

HK Electric said its monthly fuel charge for September would be 32.9 HK cents per kWh, a 10.4 per cent reduction from August’s rate of 36.7 HK cents.