HK Electric to cut fuel charge as CLP raises rate

Key facts

• Hong Kong Electric will reduce its fuel charge by 10.4% starting July 1.
• CLP Power will increase its fuel charge by 1.4% starting July 1.
• The fuel charge for HK Electric has not decreased in the past four months.
• The fuel charge for CLP Power has not increased in the past four months.

Hong Kong Electric will reduce its fuel charge by 10.4% starting July 1, the first decrease in four months, while CLP Power plans to increase its fuel charge by 1.4% for the same period. The fuel charge reflects the cost of fuel used by the power companies to generate electricity. The adjustments are made quarterly based on the average fuel prices in the preceding months.